Ethereum infrastructure “Axiom” raises $20 million to strengthen data access using ZK

Paradigm and others also participate.

Axiom, an Ethereum-based smart contract infrastructure company, announced on the 26th that it has raised $20 million in a Series A funding round. We will strengthen the zk-based infrastructure so that smart contract developers can access more data on-chain.

The latest funding round was led by major cryptocurrency VC companies Paradigm and Standard Crypto, with Robot Ventures and Ξthereal Ventures also participating.

“This funding will help us grow our team and accelerate the development of our core ZK platform, which enables smart contract developers to build data-rich on-chain applications,” Axiom said in a blog post. It has said.

We’re excited to announce we’ve raised $20 million led by @paradigm and @standardcryptowith participation from @robotventures and @etherealvc

We are building infrastructure to give smart contract developers access to more data on-chain. pic.twitter.com/M8q61KMid3

— Axiom (@axiom_xyz) January 25, 2024

Axiom allows smart contracts to trust and calculate Ethereum’s entire history, including transactions and receipts. Developers can send on-chain queries to Axiom, which will be reliably executed in a callback to the developer’s smart contract, with the zk-verified results sent. This allows developers to build on-chain applications that access more data at a lower cost without adding additional trust assumptions.

The company, which launched its mainnet last year, just released the V2 version on the 23rd of this month. Axiom V2 is a tool for integrating transaction history into on-chain applications, integrating with other decentralized apps (dApps), and extending the core business logic of existing dApps without changing them. to support developers.

Axiom’s technical feature is the expansion of data access using zk (seroknowledge). It utilizes co-processors that process data off-chain before transferring and validating it on the Ethereum blockchain using ZK proofs. This approach addresses the limitations and high costs associated with traditional data oracles and provides a more scalable and cost-effective alternative.

Scaling up the Ethereum ecosystem through the use of ZK technology has been a major trend since 2023, and has also adopted multiple ZK rollups L2 such as Starknet and zkSync.

connection:What is the evolution of the virtual currency Ethereum, Mr. Buterin’s ZK-EVM integration proposal and the future of Layer 2?

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