New Decentralized Blockchain Oracle Empiric Network Raised $7M

Empiric Network, a brand-new decentralized blockchain oracle on StarkNet, raised $7 million in a fundraising round co-led by Variant. Karl Oskar Schulz, a co-founder of Empiric, claims that they will mainly use the money for employment. Along with ecosystem partners StarkWare and Polygon co-founder Sandeep Nailwal, additional participants in the round included data partners Alameda, CMT, Flow Traders, Gemini, and Jane Street. StarkWare developed StarkNet, a zero-knowledge (ZK) rollup product that addresses scalability difficulties for the Ethereum blockchain. StarkWare’s valuation rose to $8 billion after a $100 million fundraising round in May. Schulz and Jonas Nelle co-founded Empiric Network, created through a strategic alliance with StarkWare. Introducing Empiric Network, the zk-native oracle for the zk-future of blockchain:https://t.co/YeVoKcO1aE — Empiric (@EmpiricNetwork) July 15, 2022 Decentralized Oracle A blockchain oracle connects smart contracts with the outside world to receive or transfer information. Traditional oracles are centralized, which means that data is gathered off the blockchain by off-chain nodes from many secret sources. The only thing the general public can see is the data’s output, such as a bitcoin price or a sensor’s reading. However, centralized oracles have been controversial due to the lack of transparent data. For instance, the Pyth Network oracle reported mistakenly in September of last year...