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Axiom, an emerging ethereum data protocol, has raised $20 million in Series A funding for zero-knowledge proofs.
A key technological foundation of Axiom is its use of zero-knowledge proofs (ZK proofs). These cryptographic tools verify transactions without revealing their specific details. They are critical to enabling Axiom's method of accessing and processing historical ethereum data.
The core of Axiom's innovation is its ability to give smart contract developers the ability to retrieve historical data from ethereum. The data is then processed externally, outside of the main blockchain network. This approach improves efficiency and addresses some of the inherent limitations of ethereum smart contracts, specifically their inability to directly access old blockchain data.
ethereum smart contracts have historically faced challenges accessing old data, and solutions like oracles are emerging to close this gap. However, these oracles have disadvantages, including high costs and computational limitations.
Axiom's approach, which involves running an off-chain coprocessor that processes data and then syncs it to the ethereum blockchain with ZK proof validation, presents a novel solution to these challenges, positioning Axiom as a critical player in the changing landscape of blockchain. data processing and access.
He money The round was primarily led by Paradigm and Standard crypto, two notable entities in the crypto investment space. The funding will go towards improving the protocol and expanding the team.
