This marks the first time that Chronicle Oracles are available outside of the MakerDAO ecosystem since their inception in 2017, and it represents a fantastic opportunity for us to showcase the intuitive features we鈥檝e been working on to alleviate many of the prevalent issues with on-chain Oracles.
We are excited to see the news picked up by Coindesk, CoinTelegraph, Bloomberg, Unchained, Blockworks, AP News, Yahoo Finance, Benzinga, and others.
What鈥檚 next for Chronicle?
Next up is our Keynote at Permissionless, the largest DeFi event of the year in Austin, Texas. Our Founder, Niklas Kunkel, will deliver a presentation giving the first look at Chronicle Protocol and the novel solutions we鈥檝e been working on around the cost, accessibility, and verifiability of Oracles.
On the technical side, we will continue with new chain integrations. Via a collaboration with Polygon Labs, we launched exclusively on Polygon zkEVM as our first new blockchain (outside of Ethereum).
More blockchains will follow in the coming weeks, with high TVL EVM chains the priority. After which, we will turn our attention to vertical consolidation and expansion.
What have we been working聽on?
Verifiable Data
At the core of our mission is verifiability. We firmly believe that all data should be verifiable because verification eliminates the need for trust. That鈥檚 why we鈥檝e created an on-chain dashboard called The Chronicle, which allows anyone to intuitively and provably track the origin of every piece of data, end-to-end. This creates a high-integrity censorship-resistant layer for data transmission, which is crucial for increasing the overall decentralization and security of the protocol. It also sets a new standard for on-chain data transparency.
Enhanced Security
Chronicle Protocol relies on a community-powered consensus network of 22 Feed node operators, including trusted protocols like Infura, Etherscan, Gnosis, Gitcoin, Argent, MakerDAO, and dYdX. These protocols serve millions of blockchain users daily and handle billions of dollars in value. We are committed to curating the highest quality network of Feed node operators, representing leaders in the crypto community. This approach fosters a positive feedback loop that continually enhances security and decentralization with each additional Feed, creating an Oracle for the community, powered by the community.
Cost-Efficient Oracles
We have engineered the protocol from the ground up for scalability. One of our key innovations is a next-generation Oracle cryptographic primitive called Scribe. Scribe reduces Oracle gas fees by more than 60% through a clever utilization of Schnorr signature aggregation. Schnorr cryptography, battle-tested in Bitcoin, solves a fundamental Oracle problem by decoupling the number of Feeds from the cost of verifying an Oracle update.
Oracles are currently a major cost center for blockchains and DeFi protocols. This significant reduction in operational costs opens the door for scalable Oracles that provide real-time and precise data without compromising security.
Ubiquitous Accessibility
The protocol architecture prioritizes accessibility. Chronicle offers unparalleled flexibility for blockchain integration and a plug-and-play interface for those who are used to using Chainlink. Chronicle Oracles are also blockchain agnostic and can be deployed on both public and enterprise ledgers.
We鈥檙e working on an on-chain accounting system called Levier, which will add a further layer of control for end users and is an integral part of the decentralized system. Levier will allow Oracle users to fund their Oracle operations directly on-chain, eliminating the need for off-chain remuneration. This user-centric approach empowers individuals who pay directly for Oracles to manage costs instantly and transparently. We plan to introduce this feature shortly after our launch.
About Chronicle Protocol:
Chronicle Protocol is a novel Oracle solution that has exclusively secured over $10B in assets for MakerDAO and its ecosystem since 2017. With a history of innovation, including the invention of the first Oracle on Ethereum, Chronicle Protocol continues to redefine Oracles. A blockchain-agnostic protocol, Chronicle overcomes the current limitations of transferring data on-chain by developing the first truly scalable, cost-efficient, decentralized, and verifiable Oracles, rewriting the rulebook on Oracle data transparency and accessibility.
Learn more about Chronicle Protocol and its transformative Oracle solutions by visiting https://chroniclelabs.org/. Stay updated by following Chronicle Protocol on Twitter and join the community in Discord.
