Bluzelle Oracles Update — Ryu Release
MVP & Testnet Integration completed
HADOUKEN! The MVP release of Bluzelle Oracles, the first decentralized oracles powered by a secure & high-speed decentralized database and advanced analytics, is here!
Called Ryu, this release is successfully running on the testnet providing production-quality price values for Defi.
Following the successful launch of the Bluzelle Mainnet, our tech team has been on hyperdive in delivering what we promised in the 2021/2022 roadmap. Ryu Oracles MVP is a vital part of achieving our mission in building a tamper-proof and secure infrastructure for Web 3.0.
Our Oracles are 100% native to our own Cosmos-based chain. It is running within our blockchain and leveraging the Delegated Proof-of-Stake Consensus (dPoS) to maximize the integrity of the data.
“Bluzelle’s Oracles are one of a kind, in the industry. We have cleverly employed the natural power of Proof of Stake, inherent in our blockchain, to guarantee the authenticity of our oracle data. We use advanced statistical analytics, historical data patterns, and data filtering techniques, in combination, to produce extremely reliable data feeds to our DeFi customers,” says Bluzelle CTO Neeraj Murarka.
How It Works
Every validator on Bluzelle provides data storage and also acts as a data feeder for the Oracle service. This makes our Oracles a decentralized service that also indexes the data efficiently.
Ryu is able to retrieve pricing data from arbitrary sources, e.g. Binance, associate weights to each source, and provide a strongly validated value for any data points needed.
Validators are feeders that go out and retrieve values from the various data sources. They then sign and cast their votes. All the incoming votes from validators are combined into a single value based on the weights of the voting validators. The more stake a validator has, the more weight it has in determining the value from a data source. After that, the aggregator will combine all the sources, based on the reputational weight of the source, and calculate a final value based on reliability factors. The result is a doubly-blended and doubly-filtered value that has undergone weighting based on proof of stake for our validators but that has also undergone as a secondary filter, weighting based on the reputation and karma of each source we talk to. This allows our oracles to pull data from as many sources as possible and to minimize the risk of attacks. Bluzelle’s approach is a unique, proprietary design that places it above competing oracle services in the industry. Oracles are the key to DeFi and Bluzelle has positioned itself to be the leader.
Ryu Features
These features are available for the first version:
- All validators are data feeders
- Pre-flight votes to prevent front-running
- Sources stored within DB itself
- Every vote is weighted and filtered using delegated Proof of Stake
- Dynamic control of sources by administrator
- Support token-related activities
- Free reads
- Client support in JS
Using the Bluzelle Oracles
- Retrieving price feed data from Bluzelle Oracles:
Developers can consume our JS Library to immediately retrieve any of these data points directly from our Oracles service on our Testnet. Values are updated every 60 seconds, and historical values can also be retrieved as needed. The service is free of charge at this stage. If you are interested, please reach out to us via this form: https://oracles.bluzelle.com/signup
In the coming weeks, we will also make available a consumer dashboard for the public to consume (via a web interface) the data being collected from our TestNet oracle. This dashboard simply displays DeFi prices in a very “consumer” friendly way. So you will be able to see the prices of top crypto’s listed here, several in reference to BLZ.
We will also make available a developer dashboard for the public to consume, that is more advanced and lists the actual sources, the votes coming in from each feeder, their signatures, voting powers, and the final blended values. This is a very interesting interface for developers who want to better understand how our Oracles work. You can filter based on sources and have auto-refresh. It is a vital way to understand our Oracles and why they indeed are the best product in the industry.
2. Becoming a price feeder
You can become a price feeder by joining the Bluzelle testnet as a validator. You can follow the instruction here: https://docs.bluzelle.com/developers/staking/validator
ℹ️ Price feeding will be a natural & automatic part of the Mainnet in the next hard fork, meaning all validators will also become a data feeder to earn extra fees.Next Steps
As we are working closely with some of the most promising Defi & blockchain projects, we garner valuable feedback from our partners and continuously iterate our product to solve their challenges. You can refer to our roadmap again for future releases:
About Bluzelle
Powered by a Byzantine fault-tolerant cluster of blockchains customized specifically for database operations, Bluzelle is a decentralized database for Web3. Its advanced data delivery network promises to protect businesses from data breaches, network failures, and performance troubles. Bluzelle serves as an “Airbnb of databases,” with developers paying for storage space and read/write access to the decentralized database. Secure, tamper-proof, censorship-proof, and highly scalable, Bluzelle is in the process of developing data feeds and oracles for the next phase of its evolution to help bring about a faster and more secure internet.
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