Prismatic is proud to partner with Algoracle to bring reliable oracle services to the Algorand ecosystem. Zurich, March 7, 2022 — In addition to using Algoracle’s data feeds, Prismatic actively participates in the decentralized operator community nodes and Algoracle stream providers, which facilitate reliable, independent, real-time data streams. The network itself has multiple layers of security mechanisms, verified by researchers, security auditors, and community bounty hunters.
“We are delighted to partner with Prismatic and provide oracle services to their application,” said Algoracle CEO Abdul Osman. “Strong partners like Prismatic will help make the Algoracle network more secure by providing diversified services, such as running nodes and providing streams.”
As the next hub for Decentralized Autonomous Organizations (DAOs) on Algorand, Prismatic will provide treasury management and governance services to enable smooth and efficient business operations for Algoracle and other DAOs. Prismatic is proud to partner with Algorand’s first native oracle and contribute to the fast-growing decentralized finance (DeFi) ecosystem on Algorand.
“This collaboration is a big step forward for Algorand DeFi,” said Kyle Wang, founding partner of Valhalla Capital and strategic advisor to both companies. “Prismatic’s advanced DAO tooling capabilities and Algoracle’s robust and reliable data feeds are the essential services that will pave the way for subsequent generations of DApps to flourish on Algorand.”
Algoracle is a unique, abstraction layer, decentralized oracle network built on the Algorand blockchain. It allows networks of universally connected decentralized nodes to securely interact as independent sources to provide critical off-chain, real-time external data streams that complex smart contracts need to become a robust form of digital agreement. . Algoracle received the first “Oracle Supagrant” from the Algorand Foundation and won the Algorand Encode Hackathon in 2021.
Algoracle founder Abdul Osman is a veteran of bringing technology products from ideation to large-scale delivery. His team brings a wide range of global technical depth and perspective. For more information on Algoracle, visit www.algoracle.ai or follow Twitter and Discord.
Prismatic is the basis of DAO on Algorand. DAOs are a way for individuals to coordinate around common goals. Using smart contracts, DAOs pool funds which are then governed on-chain through a trustless proposal system to allocate capital using predefined rules. The platform has three main functions: creating a DAO, governing a DAO and managing its cash flow.
Natalie Salemink, founder and CEO of Prismatic and Forbes 30 Under 30 DACH, has been in the crypto space since 2015 and has previously co-founded and contributed to numerous crypto startups in Australia, Switzerland and Singapore. The Prismatic team is made up of very experienced TEAL developers who have already worked on some of the first decentralized applications on the Algorand blockchain. For more information about Prismatic, visit www.prismatique.fi or follow Twitter and Discord.
This is a paid press release. Cointelegraph does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other elements of this page. Readers should do their own research before taking any action related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.