RedStone is a data ecosystem that provides frequently updated, reliable and diverse data for your dApps and smart contracts.
RedStone offers a fundamentally different design of Oracles that meets the needs of modern Defi protocols.
- Data providers can avoid the requirement for continuous data delivery down the chain;
- Allow end users to self-deliver signed Oracle data down the chain;
- Use the decentralised Streamr network to deliver subscribed Oracle data to end users;
- Use incentive tokens to motivate data providers, maintain data integrity and uninterrupted service;
- Use Arweave blockchain as a low-cost and persistent repository for archiving Oracle data and holding data providers accountable.
The RedStone ecosystem can be divided into 3 main areas:
- Data Provisioning is responsible for obtaining data from external sources, converting it into a common format, signing and broadcasting the collected information.
Implemented as → RedStone Oracle Node
Data Access is responsible for making the data available to end users through a variety of means such as a web portal, HTTP API, chained channels or third-party applications.
Web portal → RedStone App
HTTP API → RedStone Api
EVM connector → RedStone EVM connector
Data integrity is responsible for ensuring high data quality, incentivising providers with tokens for maintaining the service and penalising them for failures and corrupted data.
Concept → Argue protocol
Implementation → RedStone ethical contracts