Million

Arweave

RedStone

Chainlink

zkSync

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/redstone-completes-15-million-series-a-funding-round/" data-wpel-link="internal">RedStone Completes $15 Million Series A Funding Round</a> 
RedStone Oracles announced the completion of a $15 million Series A funding round for its modular blockchain oracle solution, which has already attracted the interest of 100 customers. RedStone, calling itself the fastest-growing modular platform, will use the newly raised funds to further expand its products optimized for <a href="https://en.coin-turk.com/sec-may-follow-similar-approval-process-for-ethereum-as-bitcoin/" data-wpel-link="internal">Ethereum</a> Virtual Machine (EVM) and roll-up solutions. 
<h2 class="p1" style="text-align: justify" id="redstone-team-completes-funding-round">RedStone Team Completes Funding Round</h2> 
The funding round was led by Arrington Capital with participation from other significant <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment firms</a> such as Spartan, IOSG Ventures, SevenX, Amber, HTX Ventures, and angel investors including the founders of EtherFi and Berachain. Michael Arrington, the founder of Arrington Capital, said they decided to invest in RedStone’s solution due to its advanced infrastructure: 
<blockquote> 
 “We were impressed by RedStone’s technical achievements and its ability to advance Web3 infrastructure in market entry and security.” 
</blockquote> 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-367543 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/redstone.jpg" alt="" width="1920" height="1080"> 
Founded in 2021 as part of the Arweave incubation program, RedStone has garnered significant interest since its mainnet launch in January 2023, attracting over 100 customers and achieving a valuation of $4 billion. The chain-agnostic solution supports more than 60 blockchain networks, making it a good choice for projects built on emerging networks like zkSync Era, Linea, Mantle, and Scroll. 
RedStone aims to offer lower transaction costs compared to other oracle solutions, which can help decentralized <a href="https://newslinker.co/category/mobile/" target="_blank" rel="noopener" data-wpel-link="exclude">applications</a> (dApps) reduce costs related to unnecessary data and price feeds. RedStone avoids unnecessary transaction fees by not transmitting the same data to multiple networks. 
<h2 class="p1" style="text-align: justify" id="details-on-the-subject">Details on the Subject</h2> 
Blockchain oracles are gaining attention as a rapidly growing segment of the decentralized finance (DeFi) space. According to CoinMarketCap data, the total market value of all cryptocurrencies related to Oracle was $13.1 billion as of June 3. 
According to DefiLlama data, Chainlink remains the largest oracle solution with over $24.3 billion in total value secured (TVS) across approximately 400 protocols, followed by WinkLink with $7.35 billion in TVS across two protocols. RedStone is currently the sixth-largest oracle solution tracked by DeFiLlama, with $1.32 billion in TVS across 38 protocols. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-367542 size-full" src="https://coin-turk.com/wp-content/uploads/2024/07/defillama.webp" alt="" width="1522" height="609"> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/redstone-completes-15-million-series-a-funding-round/" data-wpel-link="internal">RedStone Completes $15 Million Series A Funding Round</a></h5>

RedStone Completes $15 Million Series A Funding Round

Inhaltsverzeichnis

COINTURK NEWS

Weitere Artikel, die am 3. Juli 2024 veröffentlicht wurden

Bitcoin miner Genesis Digital Assets eyes IPO in US: report

Early Oil King Pepe Memecoin Buyer Makes Explosive 6,000% Profit, But Holds For Another 20,000% R...

Litecoin Price Experiences a Slight Increase

Bulls Push Cardano Upward

DOGE Price Breakout: Analyst Predicts 404% Surge

BEAM volume pumps 217%, price drives up 10.83%: What’s next?

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!