RedStone Speeds DeFi Trading with New MegaETH Oracle
RedStone Tackles DeFi Latency with New MegaETH Oracle
Blockchain oracle provider RedStone has significantly reduced on-chain trading latency with its new push-based oracle on MegaETH, an Ethereum Layer-2 network. This innovative solution pushes new price updates every 2.4 milliseconds, a substantial improvement for high-speed trading applications.
The oracle sources pricing data from centralized exchanges, delivering it directly to applications or smart contracts through nodes operating natively on MegaETH. This ‘co-location’ strategy minimizes latency by eliminating delays caused by physical server distance. RedStone plans to integrate decentralized exchange price feeds in the future.
Increased Demand for EVM-Compatible Oracles
The demand for Ethereum Virtual Machine (EVM)-compatible oracles is growing rapidly. According to Alchemy, 12 decentralized oracle networks currently operate on Ethereum. The lucrative oracle market, with a current market capitalization of $10.2 billion (CoinMarketCap), generates revenue through data usage fees, licenses, staking rewards, and node incentives.
DeFi Growth Fuels Oracle Competition
The rapid growth of Decentralized Finance (DeFi), with a total value locked (TVL) nearing $88 billion (DefiLlama, April 8, 2025), is driving intense competition in the oracle market. Ethereum maintains its position as the leading DeFi blockchain with $47.8 billion TVL, followed by Solana at $6.1 billion. Oracles act as a crucial bridge between blockchains and the real world, providing real-time market data to smart contracts.
Established players like Chainlink and Pyth Network dominate the space. Pyth notably surpassed Chainlink in 30-day transaction volume in October 2024, reaching $36 billion. Pyth utilizes a pull-based model, optimized for high-volume activities. RedStone's push-based approach provides a compelling alternative, especially for applications demanding ultra-low latency.
Note: Codeum provides comprehensive blockchain security and development services, including smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies.