Radom Network has secured a grant from Aurora, an EVM created by the team at NEAR Protocol. As the recipient of Aurora’s grant program, Radom will continue to grow and develop the platform behind the management and visualisation of IoT assets.
Radom is a blockchain-based platform that provides remote access to IoT devices wherever they are in the world. The network is fully accessible and can be used by IoT companies to remotely manage, visualise and configure virtual tokenized assets.
Additionally, Radom provides a monetisation platform for IoT through the leasing of data-access and physical device operation on-chain.
IoT device manufacturers will be able to collect transactional data from the distributed ledger, which is linked to the real world via Radom’s SDK (Software Development Kit). The SDK provides the user with transactional data and analytics that can be used to view payments, verify connection attempts, and detect updates to configuration sets.
Radom’s unique solution for provisioning service discovery and security metadata directly onto the blockchain, not only facilitates the creation of encrypted tunnels between devices but provides devices with new ways to receive payments.
Aurora was created by NEAR Protocol as a way of addressing current Ethereum Virtual Machine problems that accompanied the DeFi boom, including scalability and transaction speed on the Ethereum network. In October Ecosystem project Aurora raised $12 million to enable Ethereum Virtual Machine (EVM) contracts on the Near blockchain.
NEAR Protocol has allocated a number of DeFi grants, with a particular focus on early-stage ecosystem building blocks. Radom’s grant was approved by Aurora via the NEAR Foundation’s development fund.
Aurora’s grant will enable Radom to expand and develop, as part of our continued mission to build a decentralised yet connected world in which data is utilised to enhance connectivity.
Aurora is an Ethereum Virtual Machine (EVM) built on the NEAR Protocol, that provides a solution for developers to deploy their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users. The Aurora ecosystem is made up of the Aurora EVM, the Aurora Bridge, which facilitates transfers between Ethereum and Aurora, as well as the AuroraDAO - the autonomous governance of the Aurora protocol. Aurora is backed by top VCs such as Pantera Capital, Electric Capital, Dragonfly Capital, Three Arrows Capital, and Alameda Research.
NEAR Protocol launched Aurora in May 2021, to develop Ethereum compatible assets, which has led to unprecedented transaction speeds and scalability in a fully Ethereum-compatible environment. Aurora operates a dedicated shard and provides EVM support and a smart contract registry aimed at solving current and future computational challenges of the Ethereum ecosystem.
Thanks to Aurora’s EVM, Ethereum native applications can seamlessly be ported to Near’s L2-like network that is built as a smart contract on NEAR.
Radom Network is building the world’s first blockchain-based payment gateway. With Radom Network, Web3 companies and DAOs can access critical services required to operate their business without ever having to off-ramp.
Underpinned by a decentralised protocol for service discovery and authentication, sellers can on-board through the Radom dApp (decentralised application), and sell access to their internet-connected assets, such as cloud servers, API servers, proof-of-work miners or databases with on-chain and on-demand payments in stablecoins.
Customers can connect their self-custody wallet and access services directly through the Radom Marketplace or through a seller’s webpage with the Radom Widget, an integrated payment checkout widget.
Through Radom, Web3 companies, DAOs and service providers can reduce time to market, monetise, and scale quicker than ever before.
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