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

According to TechFlow, on October 18, the on-chain AI oracle service Canyon Network 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 dApp interacts with the Canyon AI Oracle Solana program to request AI reasoning, the AI ​​Oracle network quickly produces verifiable results, ensuring the transparency, efficiency, and security of AI-driven blockchain applications.