This article was first published on The Blueprint by Bluzelle - Medium
Bluzelle Oracles Update — Ryu Release
MVP & Testnet Integration completed
HADOUKEN! The MVP release of Bluzelle Oracles, the first decentralized oracles powered by a secure & high-speed decentralized database and advanced analytics, is here!
Called Ryu, this release is successfully running on the testnet providing production-quality price values for Defi.
Following the successful launch of the Bluzelle Mainnet, our tech team has been on hyperdive in delivering what we promised in the 2021/2022 roadmap. Ryu Oracles MVP is a vital part of achieving our mission in building a tamper-proof and secure infrastructure for Web 3.0.
Our Oracles are 100% native to our own Cosmos-based chain. It is running within our blockchain and leveraging the Delegated Proof-of-Stake Consensus (dPoS) to maximize the integrity of the data.
“Bluzelle’s Oracles are one of a kind, in the industry. We have cleverly employed the natural power of Proof of Stake, inherent in our blockchain, to guarantee the authenticity of our oracle data. We use advanced statistical analytics, historical data patterns, and data filtering techniques, in combination, to produce extremely reliable data feeds to our DeFi customers,” says Bluzelle CTO Neeraj Murarka.
How It Works
Every validator on Bluzelle provides data storage and also acts as a data feeder for the Oracle service. This makes our Oracles a decentralized service that also indexes the data efficiently.
Ryu is able to retrieve pricing data from arbitrary sources, e.g. Binance, associate weights to each source, and provide a strongly validated value for any data points needed.
Validators are feeders that go out and retrieve values from the various data sources. They then sign and cast their votes. All the incoming votes from validators are combined into a single value based on the weights of the voting validators. The more stake a validator has, the more weight it has in determining the value from ...
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The Blueprint by Bluzelle - Medium