Monday, July 22, 2024
Home > News > Bitcoin News > Hexagate and eOracle launch Gate Protocol Security Oracle

Hexagate and eOracle launch Gate Protocol Security Oracle

Hexagate just introduced The Gate Security Oracle, which is developed on the eOracle stack, the top AVS on EigenLayer. 

This development marks the introduction of the first-ever decentralized machine learning (ML)-based security protocol.

In the world of DeFi, trust and security remain crucial. Many projects have had to sacrifice decentralization to ensure functionality and security by extensively depending on external data. This often results in weakened security and challenges in building user trust and reputation.

The Actively Validated Services (AVS) from EigenLayer will solve this issue. By utilizing the security of billions of dollars in staked Ethereum (ETH) through the re-staking protocol, AVSs enable projects to overcome the trade-offs between centralization and security. 

Among the prominent AVS protocols, eOracle uses re-staked ETH to maintain the security of its modular Oracle networks, supported by its substantial security budget.

eOracle currently boasts over $5 billion in staked ETH, supported by more than 120,000 stakers and over 110 validators worldwide, making it one of the most resilient crypto oracle solutions available.

The Gate Protocol Security Oracle, developed by Hexagate on the eOracle stack, uses the Oracle Validated Service (OVS) model. This collaboration enables builders to integrate Hexagate’s robust ML models to safeguard their on-chain protocols against hacks and other threats, effectively creating a ‘DeFi Firewall’ that mitigates risks before any damage occurs.

Modularity

OVSs introduce a new level of modularity for blockchains, offering fast connectivity and computational bandwidth essential for infrastructure applications.

“When we began developing eOracle, our goal was to align closely with Justin Drake and Vitalik Buterin’s enshrined Oracle EIP proposals,” said Matan Si, founder of eOracle. “However, we soon recognized that while Ethereum provides an excellent architecture, it is impractical for many use cases.” 

Si went on to explain that eOracle was created to support heavy computation and fast connectivity, utilizing Ethereum validators and staked ETH for shared security and paving the way for future modular innovation extending beyond blockchains to middleware.

Source