RedStone debuts first price oracles for TON blockchain

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As a seasoned blockchain researcher who has witnessed the evolution of various networks over the years, I find RedStone’s integration of its oracle solution into The Open Network (TON) an exciting development. Having worked extensively with different blockchains and their unique challenges, it’s clear that TON’s reliance on message transmissions for contract interactions presents a distinct set of complexities. However, RedStone’s approach to addressing these challenges, focusing on the sender’s identity, message structure, and response accuracy, is commendable.

RedStone, a blockchain developer, has connected its oracle service with The Open Network, marking the initial provision of real-time pricing data on the platform.

The Telegram-backed The Open Network (TON) is strengthening its decentralized finance infrastructure by launching RedStone’s initial oracle price feeds. These offer efficient and cost-effective real-time data solutions. As per a press release dated September 19th, which was made available to crypto.news, this integration will deliver real-time data feeds that assist blockchain developers in creating protocols on TON.

Blockchain feeds serve as conduits, providing smart contracts with crucial real-world data like market prices or weather reports. This data is vital for triggering automatic actions or making decisions within the blockchain. Essentially, they link blockchains to outside data sources.

On the contrary, TON operates differently from blockchains like Ethereum (ETH), in which smart contracts interact directly. Instead, TON uses message transmission for contract interaction, introducing distinct difficulties. According to RedStone, their proposed solution tackles these intricacies effectively.

Paying close heed to essential aspects like the sender’s identity, the organization of the message, and the truthfulness of replies is vital for preserving the reliability and safety of this procedure. Each component plays a significant role in upholding the overall system.

RedStone

RedStone brings oracles to TON

The company indicates that their automated systems will continuously provide asset values, with checks in place to maintain seamless operation. Furthermore, they’ve launched smart contract templates, which are facilitated by TON Connect, to streamline the development process for easier integration.

Jakub Wojciechowski, CEO of RedStone, notes that their vision for TON extends beyond just integration. He emphasizes that as a blockchain developer, they aim to equip developers with fundamental tools such as pre-built smart contract templates and automatic relayers, ensuring smooth data transfer and continuous service. Furthermore, RedStone has formed alliances not only with TON but also with Ethereum and Avalanche (AVAX), among others, with the objective of delivering cross-chain data streams.

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2024-09-19 16:36