Last updated on July 7th, 2022 at 11:41 am
Algoracle, the unique decentralized oracle network that debuted on the Algorand blockchain, is rebranding as Goracle. One of the objectives for this rebranding is to showcase the innovative features that Goracle is set to offer the blockchain space, particularly decentralized applications.
Goracle, formerly Algoracle, is redefining communication and engagement on the Algorand blockchain with its decentralized abstraction layer oracle network.
Accurate information is critical for any platform hosted on a blockchain, especially ones governed by smart contracts.
Algoracle features a decentralized oracle architecture that provides different smart contracts with access to accurate and relevant data. The chosen data feeds will come from both within and outside the network.
Decentralized platforms can choose to customize their data feeds to include information on events occurring outside of the blockchain space, such as the weather, as well as events occurring in real-time within the blockchain realm, such as crypto prices.
As part of its rebranding, Goracle is expected to provide blockchain platforms with real-time data from Algorand and other networks, with features that make the process seamless for users.
Goracle’s move to rebrand is not the company’s only recent accomplishment. This decentralized oracle network has completed a seed round in which it raised 1.5 million USD. A plethora of prominent venture capital firms such as Borderless Capital, the Algorand Foundation, Valhalla Capital, Big Brain Holdings, Xpand Capital, Parea Capital, OrcaDAO, GMI Capital, and Exa.Finance participated in the round.
Goracle currently has fifty price pairs live on its testnet to verify the capacity of its network and make the necessary modifications where necessary. Following the completion of the testnet, the decentralized Oracle network will deploy its mainnet in the third quarter of 2022.
Goracle has recently entered into strategic partnerships with Kaiko, Brave New Coin, AmberData, Nomics, Twelve Data, CryptoCompare, Vendible, DeFi Planet, OddsJam, and others, in a bid to improve its overall operations and user experience.
Despite its stellar accomplishments, Goracle intends to build on its success with plans to hold private and public rounds and launch its mainnet in the third quarter of 2022.
To find out more about Goracle, visit their website, join their Discord and follow them on Twitter and LinkedIn.
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