Axiom, a smart contract infrastructure firm, is revolutionising authenticated data access on-chain through zero-knowledge technology.
This innovation eliminates the need for traditional consensus mechanisms where all nodes must agree on data state. Axiom believes this approach will optimise data usage and streamline processes.
The company recently secured $20 million in a Series A funding round led by Paradigm and Standard Crypto, with participation from Robot Ventures and Ethereal Ventures.
Axiom plans to use the capital to accelerate its debut product's development and onboard more developers.
This initiative aims to address the high cost of data, which often forces on-chain applications to limit features or create complex contracts to minimise data usage, hindering developers from leveraging data at scale.