Canyon Network, an AI oracle service on the chain, has completed a $6 million financing round, with DAO Venture and others participating

According to ChainCatcher, Canyon Network, a New York-based on-chain AI oracle service, announced the completion of a $6 million financing round, with participation from DeData Technologies, DAO Venture, Vinci Labs and Fission Digital Capital. Its valuation reached $60 million. The new funds will be used to support its development and launch of Onchain AI Oracle to enhance the transparency, efficiency and security of AI-driven blockchain applications.

Canyon has developed an architecture consisting of a large network of off-chain validators and operators and a set of on-chain Solana programs. When dApps interact with the Canyon AI Oracle Solana program to request AI inference, the AI ​​Oracle network quickly produces verifiable results, ensuring transparency, efficiency, and security for AI-driven blockchain applications.