The Razor oracle platform was able to gather millions of funds from prominent investors in the blockchain industry.
According to an announcement, the Razor Network was able to gather and close a private sales round amounting to $3.7 million. As a result, Razor will now be able to proceed fully in developing decentralized oracle networks. These oracle networks provide maximum game-theoretical security with no centralized bottlenecks.
Furthermore, the funding rounds are composed of important investors in the blockchain world. It includes NGC Ventures, Alameda Research, Borderless Capital, IOSG Ventures, Origin Capital, and Bitblock Capital, to name a few.
The success of the funding round made the CEO of Razor Oracle Network, Hrishikesh Huilgolkar react, saying:
The confidence shown in us by established names like NGC Ventures and Borderless Capital speaks volumes about the innovation and technical expertise that we are bringing to the decentralized oracles sector.
The Razor platform connects real-world information to its smart contracts securely. It also ensures that its decentralized applications access only reliable data. On the other hand, Chainlink is also a decentralized oracle network that offers high security and data confidentiality levels. It also has node operators that function as a powerhouse for decentralized finance (DeFi).
Regardless, the need for the oracle system today is on the rise. In a report, TRON launched its oracle system on September 15. These decentralized platforms’ achievements show that the crypto world is one step closer to decentralizing the web.