Witnet Partners with Conflux Network to Bring Decentralized Oracle to Their Next-Gen L1 Blockchain
Witnet is delighted to announce the partnership with Conflux Network to expand the adoption of accurate, efficient, and secure data retrieval methods to a global audience
Conflux Network is a high performance Layer 1 blockchain designed for dApps that require speed at scale without sacrificing decentralization. The Conflux protocol builds on all the goodness of the Ethereum Virtual Machine (EVM), but also introduces a series of innovative mechanisms that make a difference in scalability and usability for the good of the developers.
Witnet is a decentralized oracle protocol that focus on providing reliable data to “autonomous” smart contracts — those that require a high degree of tamper resistance and should not leave space for manipulation. Witnet can power most DeFi primitives like price feeds, stablecoins, synthetics, etc., as well as acting as a reliable source of randomness for creating uniqueness in NFTs.
The Witnet decentralized network of oracle nodes will immediately start to trustlessly provide data to smart contracts on Conflux Network in an accurate, transparent, and censorship-resistant way.
The integration — which is already live on the Conflux Tethys mainnet as well as on its testnet, makes all the components in the Witnet oracle suite available to every Conflux developer, including:
- Public price feeds ( CFX/USDT, BTC/USD and ETH/USD ) that are completely free to read from.
- The Witnet Random Number Generator, which is a efficient and secure way to source randomness and uniqueness into NFT and gaming use cases.
- The Witnet Request Board — which enables Conflux developers to benefit from Witnet’s internal filtering and aggregation capabilities to have external data securely retrieved and attested from multiple data sources at once, thus reducing reliance on specific data providers, and eliminating any single point of failure.
From a technical perspective, deploying Witnet into Conflux Network was a no-brainer, and the smart contracts that enable the relay of data requests and results back and forth between both networks will actually benefit from the many of the unique features of the Conflux protocol:
“Conflux’ Collateral for Storage (CFS) proves to be a highly effective incentivization mechanism for Smart Contracts to free up outdated data from chain storage” — stated Guillermo Diaz, a Witnet developer — “This alone allowed us to cut down the cost of periodically updating price feeds on Conflux in more than 60% with respect other EVM-compatible chains.”
This is only a first step in a stable relationship between the Witnet and Conflux development communities that started to take form back in May 2021 and that is expected to continue to be a win-win for many years to come, given the strong focus of both projects on improving the decentralization, permisionlessness, openness, transparency and inclusivity of the crypto space.
As part of this long-term collaboration, a dedicated team of Witnet developers is also working side by side with several projects in the Conflux ecosystem to assist them in integrating the oracle into their contracts. And these efforts will not take long to bear fruit — one of these first integrations did in fact just go live on Conflux Tethys and will be announced in the coming days.
“Conflux Network is not only a very well executed EVM compatible chain, but also brings a number of groundbreaking features to the table that truly enhance the experience of developing and running smart contracts” — highlighted Adán SDPC from Witnet Foundation — “Witnet is delighted to be the first oracle to land in an ecosystem with so much potential, and to be working side by side with the projects in it to help them build more secure, efficient and usable dApps and protocols.”
For Witnet Foundation, making the Witnet oracle available on emerging L1 and L2 chains is not only a matter of user acquisition, but also a strong bet for platforms in which innovation is happening at an incredible pace because of the lesser scalability and cost concerns. Having a first-mover advantage in providing a decentralized oracle solution for the amazing builders in those thriving ecosystems will guarantee that whatever is the next big thing in crypto, Witnet will be in the forefront, playing a key role in the development and success of this Web3 revolution.
About Witnet
The Witnet protocol enables smart contracts to realize their true potential by giving them access to all sorts of valuable data sets, and by attesting and delivering that information securely thanks to its strong cryptoeconomic guarantees.
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About Conflux
Conflux is a high performance blockchain designed for dApps that require speed at scale without sacrificing decentralization. Headquartered in Beijing China, Conflux has expanded its global operations with a diverse distributed team across four continents, and additional offices in Toronto, Canada and Lagos, Nigeria.
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