RedStone targets trading latency with new oracle on MegaETH

RedStone, a blockchain oracle supplier, has launched a push-based oracle on MegaETH to sort out latency points that problem the effectivity of onchain trading.

According to a spokesperson for RedStone, the new oracle can push new costs onchain each 2.4 milliseconds. Initially debuting on MegaETH, an Ethereum layer-2 community, the product could also be rolled out to further chains sooner or later.

RedStone stated its oracle sources costs from centralized exchanges and delivers them on to functions or good contracts by way of nodes that function natively on the MegaETH chain.

This “co-location” technique minimizes latency by eliminating delays usually attributable to the bodily distance between servers. In the longer term, RedStone additionally plans to incorporate value feeds from decentralized exchanges.

Oracles suitable with the Ethereum Virtual Machine (EVM) are gaining popularity. According to Alchemy, there are at the moment 12 decentralized oracle networks working on Ethereum.

Oracles can earn cash by way of knowledge utilization charges, licenses, staking rewards and node incentives. The present market capitalization for oracle tokens sits at $10.2 billion, in accordance with CoinMarketCap.

Related: Trump’s World Liberty Financial faucets Chainlink as oracle supplier

DeFi progress spurs additional rise of oracles

Decentralized finance’s whole worth locked onchain nears $88 billion as of April 8, after rising 116% in 2024, in accordance with DefiLlama. Ethereum stays the highest blockchain for DeFi functions, with $47.8 billion locked within the community, adopted by Solana with $6.1 billion in DeFi TVL.

The rise of DeFi has intensified competitors within the oracle market — an integral part for the functioning of decentralized functions. Price oracles feed real-time market knowledge into good contracts, appearing as a bridge between blockchains and the true world.

Popular gamers within the oracle house embody Chainlink and Pyth Network. In October 2024, Pyth flipped Chainlink in 30-day quantity, reaching $36 billion in transactions. The protocol gives a pull-based mannequin that gives knowledge upon request, thus making it optimized for high-volume actions.

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