REDSTONE Bridging Betweet Real Word Asset and Crypto Asset

Finance Enjoyer
Coinmonks
Published in
2 min readSep 30, 2023

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RedStone is an ORACLE service that aims to provide decentralized applications (dApps) and smart contracts with accurate, reliable, and diverse data feeds. These data feeds are essential for the proper functioning of various blockchain-based applications, especially in the decentralized finance (DeFi) sector.

  1. RedStone offers a wide range of data types, catering to various use cases in the blockchain ecosystem. This can include price information for cryptocurrencies, stocks, and commodities, as well as other real-world data like weather, sports scores, or IoT device readings.
  2. RedStone’s primary purpose is to serve decentralized applications and smart contracts, providing them with the necessary off-chain data to function correctly and efficiently.
  3. RedStone supports multiple Layer 1 (L1) and Layer 2 (L2) blockchain networks. By supporting various L1 and L2 networks, RedStone ensures that its oracle services are accessible and compatible with a wide range of blockchain ecosystems.

How RedStone Works

  1. Chain Supported : 40+
  2. Asset / Data : 1200+
  3. Source (DEX,CEX,Aggregator) : 130+

Can RedStone Grow Like CHAINLINK $LINK ???

https://www.bandprotocol.com/

RedStone has more various of data source and asset more than Band Protocol $BAND which only 200+ asset data. I think RedStone can grow same as ChainLink, maybe greater ???

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Finance Enjoyer
Coinmonks

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