Hexagate, a Web3 safety frontrunner, is launching The Gate Safety Oracle, a decentralized safety protocol constructed on the eOracle stack, the main Actively Validated Service (AVS) on EigenLayer, as per the newest updates disclosed to Finbold on July 9.
The collaboration introduces the primary decentralized, machine learning-based safety protocol to reinforce belief throughout the decentralized finance (DeFi) neighborhood.
Yaniv Nissenboim, Co-Founder and CEO at Hexagate, commented on the groundbreaking innovation the partnership would convey, stating:
“Up to now two years, we pioneered real-time proactive safety and constructed a battle-tested ML and invariant monitoring engines that immediately protects over $50 billion in TVL throughout numerous protocols, chains, bridges, and asset managers. However a decentralized area additionally wants decentralized safety. As a primary transfer on this course we determined to accomplice with eOracle because the OVS mannequin represents a groundbreaking innovation to allow modularity within the middleware layer. We’re actually enthusiastic about this, and absolutely consider it is going to spark a brand new wave of innovation within the area.”
Addressing challenges in decentralized protocols
Belief and safety are paramount in creating safe decentralized protocols, however many initiatives are pressured to decide on between decentralization and strong infrastructure.
The arrival of EigenLayer’s AVSs, supported by billions of {dollars} value of staked Ethereum (ETH), seeks to resolve these points by leveraging the inherent safety of staked Ethereum.
eOracle, a number one AVS protocol, makes use of re-staked ETH to make sure the safety of its oracle community.
With over $5 billion in staked ETH and the help of over 120,000 stakers and 110 globally distributed validators, eOracle is probably the most resilient crypto oracle answer.
Matan Si, founding father of eOracle, commented on eOracle’s function in addressing these points, stating:
“Once we began constructing eOracle, we aimed to carefully comply with Justin Drake and Vitalik Buterin’s enshrined Oracle EIP proposals. Nonetheless, we quickly realized that whereas Ethereum gives an excellent structure, it’s not sensible for many use circumstances. Heavy computation and quick connectivity require a devoted, immutable layer. To deal with this, we developed eOracle as a modular and programmable layer designed for each knowledge and computation. This method leverages Ethereum validators and staked ETH to make sure shared safety. The long run is modular and never only for blockchains however for middleware as nicely. Simply as Layer 2 options have considerably broadened the scope of scalable purposes, AVS will usher in the same wave of innovation within the coming years. AVS are the brand new L2s.’’
eOracle’s DeFi Firewall
Constructed on the eOracle stack, The Gate Protocol Safety Oracle leverages the Oracle Validated Service (OVS) mannequin to assist builders combine Hexagate’s ML fashions and shield their on-chain protocols.
This creates a local ‘DeFi Firewall’ that preemptively mitigates dangers.
OVSs improve blockchain modularity by way of quick connectivity and computational bandwidth, which permits protocols to keep up decentralization with out sacrificing safety.
