What is RedStone and how is it different? RedStone is a new generation oracle protocol designed to solve the oracle trilemma. Its great innovation lies in its modular architecture, which combines flexibility, speed, and security. RedStone's Strengths:
Intelligent decentralization due to the level of off-grid distribution.
Optimized performance due to mechanisms for reducing gas costs.
Extensive modularity, allowing for personalized data flows for each application.
3 RedStone data delivery models
RedStone Core - Data is dynamically embedded in user transactions, achieving maximum gas efficiency and providing an excellent user experience as the entire process fits into a single transaction.
RedStone Classic - data is sent to the chain of custody via a relay. This solution is intended for protocols designed for the traditional Oracle model that want full control over the data source and update conditions.
RedStone X targets the needs of the most advanced protocols such as perpetuals, options and derivatives, eliminating front-running risks and offering price feeds right in the next block after user interaction.
The latest integration, called RedStone ERC7412, has been added along with three other methods.
RedStone core
RedStone core remains the most accessible integration yet, with an easy method. It’s the one many prefers as it’s a simple concept with a mature concept, which means it’s the oldest one yet.
Fitting in a single transaction, injecting the data and appending it to the initial user transaction provide a way to avoid the unnecessary concepts of creating a multitude of transactions that would need to wait to each other to process before the next one ! This can become quickly annoying if one transaction last for a few hours because it hasn’t processed a hundred one before, and cost a hundred of $ because it has been processed again and again on multiples layers.
RedStone classic
RedStone Classic can greatly benefit applications that have a modular design, allowing them to decide when and how the price is updated.
"RedStone Classic has a significant advantage over traditional push oracles. Our modular architecture gives you the ability to determine when and how the price is updated (unlike other oracles, which must be controlled according to forced parameters)."
RedStone X — An extreme protection agaisnt front-running
Front running, also known as tailgating, is the practice of entering into an equity (stock) trade, option, futures contract, derivative, or security-based swap to capitalize on advance, nonpublic knowledge of a large (“block”) pending transaction that will influence the price of the underlying security. In essence, it means the practice of engaging in a personal or proprietary securities transaction in advance of a transaction in the same security for a client’s account. Front running is considered a form of market manipulation in many markets.
RedStone ERC7412
The RedStone ERC-7412 took a lot of inspiration from this model, allowing it to combine its "Classic and Core Models" together.
RedStone has already made investments in a similar area by investing in Arweave smart contract technologies, which reduced the cost of storing such data in its smart contract using Warp before transmitting it throughout its network.
As for RedStone's classic feeding methods, Oracle is already well positioned to transfer data as needed. It also has the advantage of allowing RedStone-integrated protocols to decide how and when data is transferred. Since the classic method builds on the core model, it makes sense that RedStone would be able to handle the process of multiple calls. Data can be added to the user's transaction and processed off-chain through an Oracle gateway (network streaming via Streamr - which RedStone uses).
Requirements for RedStone ERC7412 integration
Currently, this method requires the protocol to perform two steps before integration:
— Deployment of a price feed in your application.
— Then change your code to use ERC7412.
Please remember that this technology is still new, which means changes are possible in the near future.