Empiric Network Raises $7M in Seed Round Led by Variant to Accelerate Hiring

Empiric Network, an Ethereum (ETH) Layer-2 network, has recently announced that it raised $7M in a seed funding round led by the crypto fund Variant.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is a Crypto Wallet? (Explained With Animation)

SUBSCRIBE

ON YOUTUBE

According to the official statement issued on July 15th, the fresh capital will be used to accelerate hiring at Empiric Network, a zk-native decentralized oracle built through the partnership with a blockchain scalability initiative that has $8B in market value dubbed StarkWare.

The fundraiser was also backed by Alameda, cryptocurrency exchange Gemini, CMT, Flow Traders, and Jane Street, as well as ecosystem partners such as StarkWare, Polygon co-founder Sandeep Nailwal, and ROAD Capital.

As stated by Karl Oskar Schulz, co-founder of Empiric Network, the recently fired-up decentralized blockchain oracle on StarkNet was built with the purpose of boosting DeFi by providing it with the necessary data.

Empiric Network functions completely differently when compared to the traditional centralized oracles. For instance, it acts as a decentralized oracle that is fully transparent, composable, and secure as smart contracts. On top of that, it provides its users the ability to audit the data retrieved from the blockchain on its own blockchain. The official report read:

"With our deep knowledge of zk-technology and the ecosystem, we’re here to build the decentralized data infrastructure our industry needs."

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Full Bio

All Expert Contributors & Analysts