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Algoracle

Algoracle

Algoracle is a decentralized oracle network on the Algorand blockchain

OverviewStructured DataIssuesContributors

Contents

algoracle.ai
goracle.us
Is a
Company
Company
Cryptocurrency
Cryptocurrency
Product
Product
Organization
Organization

Company attributes

Industry
Decentralized application (dApp)
Decentralized application (dApp)
Blockchain and cryptocurrency
Blockchain and cryptocurrency
Web3
Web3
Blockchain
Blockchain
Decentralized Finance
Decentralized Finance
Blockchain oracle
Blockchain oracle
Location
Toronto
Toronto
B2X
B2B
B2B
CEO
‌
Abdul Osman
Founder
‌
Abdul Osman
Number of Employees (Ranges)
51 – 200
Investors
Parea Capital
Parea Capital
Borderless Capital
Borderless Capital
Valhalla Capital
Valhalla Capital
Big Brain Holdings
Big Brain Holdings
Exa Finance
Exa Finance
Algorand Foundation
Algorand Foundation
Founded Date
2021
Total Funding Amount (USD)
1,500,000
Latest Funding Round Date
May 18, 2022
Also Known As
Goracle
Latest Funding Type
Seed
Seed
Country
Switzerland
Switzerland
Headquarters
Zug
Zug

Cryptocurrency attributes

Consensus Mechanism
Proof-of-stake
Proof-of-stake
Ticker Symbol
GORA

Other attributes

Blog
algoracle.ai/blog
Company Operating Status
Active
Cryptocurrency Symbol
GORA
Latest Funding Round Amount (USD)
1,500,000

Developed in the fall of 2021 and the first place winner of the Encode's Algorand Hackathon, Algoracle is the first dynamic, decentralized oracle network built on the Algorand Blockchain.

Algoracle’s purpose is to provide simple oracle solutions which assist dApps built on Algorand to access off-chain data securely, accurately and quickly.

There is a large number of exciting applications that can be built on blockchain, and a healthy network of oracles that is just as decentralized and transparent as the blockchain it is built on. Algoracle believes in security by reducing complexity.”

Hyperfocus on data feeds-designed by and for Algorand developers

Multiple security layers

A penalty/reward system, cyrptographic signing, sortition protocols, outlier detection and bounty hunting all work together to provide layers of security and accuracy.

Pay as you go

Smart contracts may pay a small fee each time they retrieve data, in addition to a one time subscription fee.

Fully encrypted

Transactions are open and transparent, so anyone can see whats happening. However, Algoracle uses public/private key encryption off-chain and cryptographic sortition to ensure privacy and security.

Plenty of options

Sports, weather, crypto prices, stocks, exchange traded funds, or create your own feed!

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

A Chat With Algoracle | Data On The Algorand Blockchain & What is an Oracle?

https://www.youtube.com/watch?v=W213PQz_E_M

Web

December 21, 2021

Algoracle AMA w/ Founder: Abdul Osman [1st Oracle on ALGORAND!!!]

https://www.youtube.com/watch?v=IuWpEq-zAls

Web

January 20, 2022

Algoracle and other Oracles, the Future of Decentralized Finance | Algoracle

https://www.algoracle.ai/post/oracles-the-future-of-decentralized-finance

Web

Algoracle distributes Real-Time Data: With a Carbon Neutral Twist | Algoracle

https://www.algoracle.ai/post/deposit-and-withdraw-price-updates

Web

Algoracle, Providing Value to the Algorand Blockchain | Algoracle

https://www.algoracle.ai/post/algoracle-monetizing-data-on-the-algorand-blockchain

Web

References

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