Redstone
1min
Redstone is a cloud based provider of Oracle data.
Caduceus will implement redstone’s price oracles in order to provide its client base and user base with a reliable and low cost price feed covering different fields.
Advantages
Allows your smart contracts to fetch any non-standard data, like volatility, order books or trading volumes.
In comparison to existing oracles, they need to push data to blockchains all the time. Redstone does not need to push data to blockchains all the time and does it in batches in loaded transaction data.
Redstone has a high update frequency
More traditional price feeds are also included.
How it works
Using Redstone is a four step process
- Data is pulled in using javascript SDK from a centralised cloud server. This is performed by first packing a data request in transaction byte code, which is sent through Web3 wrapper such as web3.js to the blockchain.
- While data is pulled in from the blockchain through javascript, satisfying the user , it is also simultaneously verified by transmitting it to an on-chain verification process.
- Once it is pulled in, it is then pushed out to the blockchain for verification.
- Once the verificaiton is satisfied, the user can utilize the end data.
