🎉 RedStone has just secured $15.00M in its latest funding round! 🎉
🔹 About: RedStone is an Oracle system designed to provide frequently updated, reliable, and diverse data feeds for decentralized applications (dApps) and smart contracts across multiple Layer 1 (L1) and Layer 2 (L2) blockchains. Unlike traditional Oracles, RedStone takes a novel approach:
1. Decentralization: RedStone leverages a decentralized architecture, allowing data providers to avoid continuous on-chain data delivery.
2. Self-Delivery: End users can self-deliver signed Oracle data directly on-chain.
3. Streamr Network: RedStone uses the decentralized Streamr network to deliver signed Oracle data to end users.
4. Token Incentives: Data providers are motivated by token incentives to maintain data integrity and uninterrupted service.
5. Arweave Blockchain: RedStone utilizes Arweave as cheap and permanent storage for archiving Oracle data and ensuring data providers’ accountability.
🔹 Lead Investors: Coinbase Ventures, Blockchain Capital, The Spartan Group, Sandeep Nailwal, Amber Group and many more.
🔹 Total Raised: $22.00M.
🔹 Project Category: Oracle, Blockchain Infrastructure.
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