At Chronicle, we have long embraced the saying ‘don’t trust, verify', and although it's a term that didn’t originate in the blockchain space, the meaning behind it is very apt for both blockchains, which are verifiable, and also Chronicle, the only fully verifiable decentralized oracle.
Today, we extend our love of verifiability to our newest product, placeholdered as The RWA Oracle and now officially named Verified Asset.
The Verified Asset Oracle
Verified Asset is the new name for the RWA Oracle and currently secures protocols such as Centrifuge, M^0, Midas, and Superstate.
Verified Asset utilizes the unique advantages and long-standing reputation of Chronicle Protocol, extending it to any asset that originated offchain, such as Treasury Bills, FIAT currency, and gold, amongst others.
The Verified Asset Oracle (VAO) can securely and transparently verify the integrity and quality of any offchain asset, transport the resulting data onchain, and distribute it directly to smart contracts or onchain products.
This real-time data is the missing link in transforming trillions of dollars of offchain assets into onchain value, enabling utilization by blockchain-based products and dapps.
Verified Asset unlocks this potential.
Leveraging Chronicle Protocol
Verified Asset’s unique advantages are imbued by Chronicle Protocol, the infrastructure layer that the VAO employs.
- Industry Leading Validators: A decentralized and distributed network of reputable and industry-leading Validators, including Gnosis, Gitcoin, Etherscan, MakerDAO, ETHGlobal, Infura, and Nethermind. This unique approach to Validators bolsters the typical Byzantine Fault Tolerance of a decentralized Validator network with a ‘Proof of Reputation’ factor, ensuring that if the majority of the Validators were to act maliciously, their brand and company reputation would be on the line.
- Unrivaled Transparency & Verifiability: A uniquely transparent oracle network, every piece of information on Chronicle Protocol can be cryptographically verified by using the online dashboard, The Chronicle. This ensures the highest levels of transparency and data integrity, creating the first truly trustless Oracle network.
- Increased Security and Decreased Cost: Independently verified as the most cost-efficient blockchain Oracle network, Chronicle uniquely applies Schnorr signatures to unlock an unlimited number of validators and reduce gas costs for delivering data onchain by 60-80% versus the competition. This innovation allows for a more decentralized, and therefore more secure, network.
The Verified Asset Oracle, Powering ‘Real World Assets’
Verified Asset has been developed to unlock the fast-increasing opportunities often referred to as Real World Assets (RWAs).
What are Real World Assets? (RWAs)
In the context of blockchain, Real-World Assets (RWAs) refer to physical assets and traditional financial instruments represented as digital assets on a blockchain network. These can range from assets such as real estate, commodities, art, and even intellectual property to financial assets such as bonds, stocks, or ETFs . RWAs provide a bridge between traditional and blockchain-based finance, opening up new opportunities for market inclusion, accessibility, and innovation.
