Gminers, a few days ago Redstone Oracle announced that they have successfully secured new funding led by Arrington Capital, to further develop their Oracle Model product.
What is Redstone Oracle?
To start this discussion, let's get to know Redstone Oracle first.
Redstone Oracle is a critical infrastructure in crypto, their job is to keep prices balanced between outside world assets and the blockchain world.
Redstone Oracle provides gas-optimized and secure price feeds for all EVMs and RaaS networks.
Redstone Oracle's advantages over other competitors
Of course, investors see the potential that Redstone Oracle has compared to its competitors, what makes Redstone Oracle feel innovative are some of the features they offer, let's see the table below:
The features provided are very diverse
Some of the problems that occur and Redstone Oracle has solutions for include:
Gas Fees Issue: Competitors often have high gas fees due to unoptimized monolithic architecture.
RedStone Solution: RedStone uses a modular architecture that allows for gas optimization, significantly reducing transaction costs.
Limitations of Data Consumption Models: Competitors provide standard data consumption models, which are sometimes inflexible for different use cases.
RedStone Solutions: RedStone offers multiple data consumption models that can be tailored to specific needs, providing developers with greater flexibility.
LRTs asset support varies
Currently Oracle Redstone supports a wide range of LRTs asset types:
This makes Redstone Oracle successfully secure assets of $3 billion based on the Total Value Secured (TVL) in DefiLlama.
Various models
Redstone Oracle offers a variety of oracle models, they have 3 models including Push model, Pull model and Hybrid model (X).
Each model has specific applications and uses depending on the needs of the smart contract and the type of data required.
Pull Model: Ideal for crypto applications that require data periodically without constant updates. For example, DeFi applications that only need price data for a particular asset at specific times to calculate interest on a loan or determine when to reset a leveraged position.
Push Model: Suitable for applications that require real-time data, such as DeFi platforms that require continuous asset prices to manage liquidations or automated trading.
Hybrid Model (X): Used in situations where flexibility is needed, allowing smart contracts to request data at any time, while the oracle also sends updates automatically. An example of its use can be found in parametric insurance that requires real-time weather data as well as incident data verification.
What are people saying about Redstone Oracle?
Michael Arrington, founder of Arrington Capital, said he was impressed with Redstone Oracle because it is a team that we believe will continue to lead in the oracle space.
Conclusion
Redstone Oracle has demonstrated its potential as a major player in the crypto ecosystem by offering innovative solutions to some of the key challenges faced by blockchain applications. With the latest funding led by Arrington Capital, Redstone Oracle is poised to further develop their product, making a major contribution to the industry.
The main advantage of Redstone Oracle lies in the gas-optimized features they offer, as well as the modular architecture that allows for gas optimization and reduced transaction costs. In addition, by providing a variety of flexible data consumption models, Redstone Oracle makes it easy for developers to customize the solution to their specific needs.
With extensive support for various types of LRTs assets and successfully securing $3 billion in assets based on Total Value Secured (TVL) reported by DefiLlama, Redstone Oracle has proven its reliability in maintaining price parity between real-world assets and blockchain.
Diverse oracle models, including Pull, Push, and Hybrid (X) models, offer great flexibility for a variety of crypto applications, from DeFi to parametric insurance. Support and praise from industry figures, such as Michael Arrington, further solidifies Redstone Oracle’s position as an innovative leader in the oracle space.
With all the advantages and innovations it offers, Redstone Oracle is on the right track to continue to lead and make a significant impact in the development of blockchain technology in the future.
Greetings, Gminers
Important links:
Website: https://redstone.finance/
Twitter: https://twitter.com/redstone_defi
Discord: redstone.finance/discord
Zealy: https://zealy.io/c/redstoneoracles/questboard
