As a seasoned crypto investor with a knack for staying abreast of the latest developments in the blockchain space, I find RedStone’s move to introduce Bitcoin staking oracles particularly intriguing. Having witnessed the rise and fall of numerous projects, it’s refreshing to see a company like RedStone expanding its horizons beyond Ethereum and The Open Network.
As a researcher, I’m excited to share that RedStone, a prominent blockchain oracle provider, has unveiled specialized oracles tailored for Bitcoin staking. These innovative solutions aim to enhance the functionality and security of Bitcoin staking protocols.
RedStone, a versatile oracle service provider, is growing its selection of oracle options across various networks by launching oracles specifically designed for Bitcoin (BTC) staking. These new oracles can now be used on the Lombard staking platform. Based in Switzerland, RedStone creates oracles that deliver real-time information about Bitcoin staking. By using these oracles, users can stake their Bitcoin and receive Liquid Staking Tokens on the Ethereum blockchain.
As reported in a press release sent to crypto.news, the solution is now operational on Lombard, a protocol for restaking with over $500 million in total value locked. The oracles have been created to monitor and report crucial data like the amount of Bitcoin staked, the issuance of LST, and calculations for net asset value.
RedStone plans further expansion of Bitcoin-focused oracles
As a researcher, I’m excited to share that RedStone is planning to extend its oracle services to platforms like pumpBTC, Solv, Arbitrum, Base, and BNB Chain. In the forthcoming months, we anticipate these expansions will further strengthen our presence in the blockchain ecosystem. Our CEO, Jakub Wojciechowski, has stated that this latest development aims to equip Lombard with the infrastructure essential for a smooth integration of Bitcoin and DeFi.
RedStone has already dabbled in blockchain oracle services before, as they’ve introduced similar products on numerous blockchain platforms such as Ethereum and The Open Network. Established in 2021, RedStone attracted a $15 million investment in Series A funding, with Arrington Capital taking the lead. Other investors included HTX Ventures, Amber Group, and Spartan.
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2024-10-08 16:18