Empiric Network and StarkWare Announce Partnership
Empiric is excited to announce their partnership with StarkWare, developers of STARK-based cryptography for scaling blockchains. StarkWare has shown the power of this technology with StarkEx, their permissioned scalability solution that has processed over 200M transactions and settled over $600B in value. Now, they have created StarkNet which applies this STARK-based technology to a general, permissionless and decentralized zero-knowledge (zk) rollup (also known as validity rollup). StarkNet dramatically reduces the costs for all protocols and fundamentally reshapes what protocols are able to do.
Empiric Network is the first oracle live on StarkNet, and the leading provider of robust data feeds to the ecosystem today.
Just like on other blockchains, smart contracts on StarkNet’s zk-rollup are secure and permissionless, but are unable to independently assess the state of the world. This is known as the oracle problem and is solved by data providers which help smart contracts assess the state of the world by bringing that critical data on-chain. However, existing oracle solutions have most of their core logic off-chain in order to avoid paying high network fees. In contrast, on zk-rollups the gas fees are much lower which allows for entirely on-chain oracles that are more robust, transparent and decentralized.
Empiric Network is built zk-first from the ground up, taking advantage of StarkNet’s cheap, verifiable computation. Data partners such as Alameda Research, Jane Street, Gemini, and CMT sign their proprietary data and send it directly on-chain. Everything else happens in smart contracts deployed on StarkNet, making Empiric’s price feeds decentralized, transparent and robust. By leveraging StarkNet‘s cheap, verifiable on-chain computation Empiric is pioneering computational data feeds that will enable the next generation of DeFi protocols that are smarter, cheaper and more powerful.
Empiric is the leading provider of data feeds to the StarkNet ecosystem today, live with 20+ price feeds powering leading protocols such as zkLend, Yagi, Serity, Magnety, CurveZero and many more.
The Empiric team has attracted fantastic data partners and Empiric Network is already one of the leading protocols on StarkNet. I am excited to see them leverage zk-technology to build out their vision of decentralized, transparent and composable data feeds. — Uri Kolodny, Co-Founder and CEO at StarkWare
As part of this partnership, Empiric Network will continue to build key infrastructure that allows smart contracts on StarkNet to access critical information about the state of the world. Empiric will expand its pioneering development of computational feeds such as yield, volatility, and correlation feeds as well as bringing new data verticals such as weather data on-chain. Finally, Empiric will also continue bringing additional data sources on-chain, such as randomness (critical for NFT and gaming applications), and bringing data from the Ethereum L1 to StarkNet (such as Uniswap TWAP).
About StarkWare
StarkWare develops STARK-based solutions for the blockchain industry. Their products facilitate secure, trustless, and scalable blockchain applications. StarkWare develops StarkEx, a standalone permissioned Validity-Rollup, and StarkNet, a permissionless decentralized ZK-Rollup.
About Empiric Network
Empiric Network is the leading zk-native oracle, live on StarkNet with 20+ price feeds. By being entirely on-chain, Empiric makes data decentralized, transparent and composable. The network is powered by data partners such as Alameda Research, Jane Street, Gemini, and CMT and trusted by leading protocols such as zkLend, Magnety, Serity, CurveZero and many more.
