(This article was originally published on my personal blog:https://chainguys.github.io/)
Last updated
RedStone is an innovative new Oracle system designed to meet the evolving data needs of decentralized finance (DeFi) protocols and dApps on multiple layer 1 and layer 2 networks.
Existing Oracle solutions have some key limitations that RedStone aims to solve:- Pushing data on-chain continuously wastes resources if the data is unused.
Monolithic architecture makes it difficult to scale up listed assets or reduce latency.
Protocols can't fully control trusted data sources and update frequencies.
Users depend completely on relayers and risk being cut off.
RedStone provides a radically new Oracle architecture tailored for modern DeFi:- Avoid mandatory continuous on-chain delivery.
Enable users to self-deliver signed Oracle data on-chain.
Leverage the decentralized Streamr network to deliver signed data to users.
Use token incentives to motivate reliable data feeds from providers.
Archive immutable Oracle data on Arweave for accountability.
RedStone uses a modular approach where data is stored off-chain and only fetched when needed. This allows broad asset coverage and high update frequency without bloating on-chain data.3 Integration Options: Based on smart contract needs, RedStone offers:
RedStone Core - injects data into user transactions for efficiency.
RedStone Classic - pushes data via relayer for control.
RedStone X - eliminates front-running risks for derivatives.Conclusion:
With its innovative architecture, RedStone unlocks the next evolution of customizable, reliable, and efficient Oracle solutions tailored for the future of DeFi.
