Streamr’s Head of Developer Relations, Nico Burkart recently spoke with RedStone Lead Developer, Alex Suvorov on how RedStone and Streamr are cooperating to create the next generation of scalable Web3 Oracles and data products.
What are blockchain oracles?
Oracles allow decentralized systems to access external data sources and protocols. Without oracles, dApps would find it difficult to bridge between on-chain and real-world data, limiting their connectivity, and the value of Web3 data feeds.
A challenge with the existing oracle landscape though, is that they are not scalable. This is what RedStone is changing.
What makes RedStone oracles unique?
What sets RedStone oracles apart is that they do not force data providers to put data on-chain directly, instead allowing users to sign data using their private keys and broadcast it using Web3 technologies, such as the Streamr Network, to create a more cost effective and flexible model.
Thanks to this flexibility, builders can fetch data to over 30 different chains with a few lines of code without such costly gas fees. RedStone is also behind Warp Contracts, which enables builders to write scalable smart contracts on the Arweave blockchain.
With RedStone and Streamr, anyone can act as a data provider and configure a data stream in a matter of minutes to deploy low latency real-time data in their dApps.
Watch the full interview to dive into the details with Nico and Alex!
We’re really excited to be working with RedStone and look forward to seeing our cooperation develop in the future.
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