Today, we are excited to announce that we have completed the onboarding of four new validators to Chronicle’s decentralized oracle network, Nethermind, ETH Global, Euler, and Mantle, to increase the security and resilience of the protocol.
Validators play a unique and irreplaceable role in decentralized oracle networks. The nodes that the validators autonomously operate are tasked with sourcing the data that is subsequently fed into Chronicle Protocol and relayed onto the destination blockchain for users to consume. It is vital to have a decentralized and reputable validator network to ensure the accuracy and integrity of the data.
This is the first time changes have been made to the makeup of the decentralized validator community since our spin-out of MakerDAO (now known as SKY). The initial validator community was inherited from MakerDAO governance, and much of the rationale underpinning its creation remains today.
Tippified by the four new additions, a vital facet of this design is the onboarding of highly reputable organizations. The logic is that organizations are far more resilient against coercion, have resources to combat malicious actors, have battle-tested operational security, and, by being publicly identifiable as a validator node in a protocol with full transparency, put their reputation at stake if they were to act maliciously.
Euler, Mantle, ETH Global, and Nethermind join a growing list of highly reputable leaders in the blockchain industry, including Etherscan, Gnosis, Gitcoin, and Infura. The full list of Chronicle’s current validators can be found here.
Each of the network’s new additions has proven their value-add to the crypto community in its own way, and we’re very proud to have them validate the protocol:
Euler is one of the original DeFi protocols and a pioneer in creating innovative new products for DeFi's users. They recently launched the much-anticipated v2 of their cutting-edge modular DeFi product.
ETH Global are the global leader in the development of the blockchain developer community, serving thousands of hackers each year with their industry-leading hackathons, events, and conferences.
Mantle, originally BitDAO spans a long history. Today, the Mantle Ecosystem contains Mantle Network a key player in the Ethereum layer 2 space, the largest treasury in crypto, with over $2b in assets, an active DAO, & an Ether liquid staking protocol.
Nethermind was founded in 2017 and is a leader in supporting and growing the blockchain industry. They continue to make significant contributions to Starknet and Ethereum and provide the second-largest execution client for the blockchain after Geth.
If you believe your organization meets the requirements of Chronicle Protocol’s validator community, and you are interested in joining reach out to us on Discord or here.
About Chronicle Protocol
Chronicle, the original oracle on Ethereum, is a novel, blockchain-agnostic Oracle solution that has exclusively secured up to $22B in assets for MakerDAO and its ecosystem since 2017. Chronicle’s mission is to deliver on DeFi’s vision of transparency and decentralization. To solve the tradeoffs between security, decentralization, and cost, Chronicle spearheaded a breakthrough in Oracle network architecture by developing Scribe, an extremely gas-efficient Oracle based on aggregated Schnorr signatures. In doing so, Chronicle is raising the industry standard for Oracles by delivering more security, more transparency, and more resilience, at a lower cost.
