The On-Chain Data Landscape Needs a Radical Redesign

Oracles, originally invented to deliver price feed data, have grown to enable much more, including cross-chain token bridges, random number generation, and cross-chain messaging. Yet the commercial landscape remains relatively undeveloped.

Most people in the on-chain space have heard of an Oracle, but fewer people know how integral Oracles are to many of the products and protocols we use every day. Even fewer know what it costs to build or use an Oracle.

The current landscape is fragmented, the quality of the Oracles at your disposal can feel like a gamble. Even from the ‘leading’ providers, there are cases of poorly designed and supported Oracles leading to illegitimate liquidations of DeFi users.