Hey guys I'm here again with another article on the Redstone Oracle. Let's go with the current hype and discuss the modular design of Redstone.
Warning, a long thread ahead!
1) What's this so-called "modular"?
Although widely discussed, I bet very few know what modular really means. Simply put, it is when a product is built by integrating multiple independently functioning components designed and utilized in a way to produce a collective output.
2) So why is this concept so hyped?
Let's say it's simply because of its advantages. Such a system could be changed, customized, or even remodeled at the core level without compromising the system. The output such a system produces is more secure and accurate.
3) What's in it for the Redstone?
Considering traditional oracles, the data stream they provide is rigid unlike in Redstone which is customizable. With an ever-increasing demand for web3, the modular nature of Redstone allows it to be versatile, scalable, upgradable, and interoperable.
Redstone utilizes the Arweave blockchain as the permanent date storage as it allows rapid feeding of data into the oracle and produces data on-chain as required to cater to defi protocols. This process is extremely time and cost-efficient.
4) Three Oracles model of Redstone
In order to match consumer needs, Redstone offers 3 Oracle models.
i) RedStone Core is the model utilized to integrate data into user transactions in a cost-efficient manner.
ii) RedStone Classic is the traditional model designed for dapps that need frequent and high-demand data access.
iii) RedStone X is the model with minimal latency and it's introduced to power high-performance dapps such as derivative protocols.
5) This is what the co-founder of Redstone has to say regarding its modular design (Quoted from another Redstone maxi)
https://twitter.com/chainsaw_here/status/1751356524742541688
So as I have explained, the robust system of Redstone Oracles is designed in a manner to function with extreme flexibility, accuracy, and customizability. That's why it's already being adopted by many defi protocols and blockchains, and even more adoption will be apparent down the lane.
7Now that's a wrap. If my article interests you, here are more sources of information that you could use to gather info.
Github -
https://github.com/redstone-finance/redstone-node/blob/main/docs/COMPILED_ORACLE_DOCS.md
Medium -