In recent exciting news for the blockchain sector, a distributed autonomous organization known as Azuro, which is famous for using the protocol for prediction on the blockchain, has just formed a partnership with the zkSync Hyperchain Sophon. This alliance is expected to change the face of prediction app development and its utility, indicating the future expansion of blockchain.
Azuro has now positioned itself as one of the key competitors in the sphere of blockchain, hardworking on coming up with an effective program that supports the creation of decentralized prediction markets. It is a marketplace for users to engage in prediction about outcomes of different events, such as sports events and financial events, among others, and get rewarded accordingly. Promising to be the first decentralized autonomous organization, the DAO has been a model of consistency that strives to improve user interface and overall efficiency of the prediction markets.
zkSync Hyperchain Sophon is a relatively new and modular architecture for entertainment-facing use cases. Integrated into the zkSync Hyperchain infrastructure, Sophon is intended to solve complex computation and facilitate high-traffic applications, including gaming, artificial intelligence, and entertainment in general. Sophon intends to develop next-generation block chain-based entertainment services with ZK proofs to ensure the scaling problem and security issues can be effectively solved.
Azuro and Sophon's relationship is not just a partnership; it is a merger of technologies that augment one another effectively. First, Azuro provides prediction markets services that can be interesting for users, and second, Sophon is characterized by high speed and adapted to the entertainment sphere. Altogether, they intend to start a grant program co-hosted by Sophon-run zkSync and Azuro-developed prediction applications that will foster the adoption of Hyperchain, a Sophon-run zkSync.
For developers, this partnership provides an exclusive chance to innovate prediction applications with minimal cost and without having to learn every aspect of smart contract development. Azuro’s proposed approach for on-chain app execution includes the tools needed to execute apps in the protocol, and Sophon handles scalability and performance of the apps. This synergy eliminates the barriers to entry into the prediction markets sector, which makes developers concentrate on the targets of acquiring users, getting them to participate in the markets, and generating revenue.
While users may also benefit from the improvement of their experience with a better, more reliable, user-friendly, and larger variety of prediction applications, elevation aims to enhance the ecosystem to enable users to participate in prediction markets more efficiently and safely.
Both organizations have recently received sizable funding rounds leading up to the partnership announcement. Azuro recently raised $11 million in funding dedicated to ecosystem development and marketing within the decentralized prediction market category. Sophon has also secured significant funding: a $10 million seed round and a node sale that netted roughly 21,000 ETH.
Soon, Azuro will be ready to incubate and foster new prediction applications that plan to join the Sophon ecosystem. Together, the two entities will improve the existing environment of prediction markets and create the basis for further development of blockchain entertainment in the future.