RedStone, a blockchain oracle provider, has announced the integration of its price feed solutions into The Open Network (TON) blockchain.
The integration will enable developers and projects on TON to access real-time and accurate asset prices, which is important for executing complex financial protocols.
In a Q&A with Cointelegraph, Marcin Kazmierczak, the chief operating officer at RedStone, stated that this would be “the first oracle integration on TON.”
TON integration challenges
Compared to Ethereum-based systems, the TON integration presents unique technical challenges due to the design of the blockchain.
Kazmierczak explained that, as “the first oracle on TON,” there were no “examples from that category to follow; hence, it’s truly innovative.”
“Technical integration of infrastructure with TON is more challenging than EVM due to its design, i.e., dedicated sharding mechanism of the network.”
Unlike other blockchains, TON relies on a technically complex message transmission system rather than smart contracts, a process that requires particular attention to security measures.
Ecosystem growth implications
Kazmierczak explains that the oracle integration has wide implications for TON’s ecosystem, with “potential for further expansion” of decentralized finance (DeFi) on the network.
He stated that incorporating Oracle price feeds and real-time data on TON would “support its rich GameFi and social ecosystem.”
“The opportunity to mix these two areas with DeFi applications can have a multiplying effect.”
Regarding future opportunities post-integration, Kazmierczak stated that RedStone is considering additional sectors, including “the liquid staking and restaking oracle sector.”
RedStone's $15 million raise
On July 3, RedStone completed a $15 million Series A funding round to expand its Oracle products, exemplified by becoming the first oracle integrated with TON blockchain.
The modular blockchain oracle’s raise was led by Arrington Capital with participation from other investment firms, including Spartan, SevenX, and IOSG Ventures, among others.
Arrington’s founder, Michael Arrington, explained that the firm’s decision to invest in RedStone was based on the oracle provider’s “ability to push ahead Web3 infrastructure.”
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