eOracle, Hexagate Introduce Gate Security Oracle to Establish 'DeFi Firewall'

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Hexagate, a starring real-time Web3 information firm, is launching the Gate Security Oracle, built connected the eOracle stack, the starring AVS connected EigenLayer. The caller merchandise is expected to importantly heighten the information and decentralization of staking (restaking) segments and DeFi arsenic a whole.

Gate Security Oracle by eOracle and Hexagate kicks off

According to the authoritative connection of eOracle and Hexagate, its associated solution, Gate Protocol Security Oracle, volition beryllium mounting caller standards successful information for the ETH staking scene. eOracle, the starring AVS protocol successful presumption of staking and validators' network, utilizes restaked ETH to warrant that modular oracle networks stay unafraid owed to its monolithic and effectual information budget.

A fewer years ago, @VitalikButerin wrote, ’’Instead of putting the taxi operator retired of a job, blockchain puts Uber retired of a occupation and lets the taxi drivers enactment with the lawsuit directly.’’

We are witnessing the aforesaid mechanics instrumentality spot successful the oracle space. Data and computation… pic.twitter.com/yQErF2pB1H

— eOracle | astatine EthCC 🇧🇪 (@eoracle_network) June 18, 2024

With the motorboat of EigenLayer Actively Validated Services (AVSs), which benefits from the information of billions of dollars worthy of ETH locked successful for the restaking protocol, the trade-offs of centralization and information tin beryllium flooded by deploying services that pat into the inherent information of staked ETH.

Currently, eOracle hits implicit $5 cardinal of staked ETH backing its oracle network, with implicit 120,000 stakers and much than 110 validators distributed globally, making it the astir resilient crypto oracle solution by crypto-economic security.

Matan Si, laminitis of eOracle, highlights that the instauration of specified a work is simply a earthy measurement successful the improvement of restaking infrastructure:

When we started gathering eoracle, we aimed to intimately travel Justin Drake and Vitalik Buterin's enshrined Oracle EIP proposals. However, we soon realized that portion Ethereum provides an perfect architecture, it is not applicable for astir usage cases. Heavy computation and accelerated connectivity necessitate a dedicated, immutable layer. To code this, we developed eOracle arsenic a modular and programmable furniture designed for some information and computation. This strategy leverages Ethereum validators and staked ETH to guarantee shared security.

He besides stressed that mainstream aboriginal decentralized solutions volition beryllium modular and volition flooded large shortages of the existing L1/L2 infrastructure.

New merchandise showcases opportunities of Oracle Validated Service (OVS) model

Yaniv Nissenboim, cofounder and CEO astatine Hexagate, is enthusiastic astir the relation of the caller improvement successful advancing the level of decentralization successful the DeFi segment:

Decentralized abstraction besides needs decentralized security. As a archetypal determination successful this absorption we decided to spouse with eOracle arsenic the OVS exemplary represents a groundbreaking innovation to alteration modularity successful the middleware layer. We’re truly excited astir this, and afloat judge it volition spark a caller question of innovation successful the space.

OVSs grow the existing conception of modularity for blockchains into the middleware space, providing accelerated connectivity and computation bandwidth for the infrastructure uses that request it.

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