Blockchain innovator RedStone has successfully integrated its oracle solution into The Open Network (TON), marking a pivotal development with the introduction of the first-ever price feeds on the blockchain.
Blockchain innovator RedStone has successfully integrated its oracle solution into The Open Network (TON), marking a pivotal development with the introduction of the first-ever price feeds on the blockchain. This move is expected to enhance TON’s decentralized finance (DeFi) ecosystem by providing real-time, gas-efficient data solutions.
Toncoin, the native cryptocurrency of TON, saw a 4.18% uptick following the announcement, signaling market confidence in RedStone’s integration. According to a press release shared on September 19, this new oracle feed system will empower blockchain developers to create more advanced protocols on the TON platform, delivering reliable, real-time data.
Oracles play a vital role in blockchain networks by supplying external data—such as asset prices or weather conditions—to smart contracts. This data is essential for enabling automated decision-making within decentralized applications (dApps). RedStone’s solution bridges the gap between blockchains and external data sources, addressing the unique challenges posed by TON’s architecture, which differs from Ethereum (ETH) in its reliance on message transmissions for contract interactions.
RedStone highlights the complexities of maintaining data accuracy and system integrity, emphasizing the importance of factors such as sender identity, message structure, and response verification. Their oracle service automatically publishes asset prices, with monitoring systems in place to ensure uninterrupted service.
In addition to oracles, RedStone has rolled out smart contract templates powered by TON Connect, streamlining the development process for TON-based applications. RedStone CEO Jakub Wojciechowski highlighted the company’s commitment to providing essential tools like smart contract templates and automatic relayers, designed to facilitate seamless data flow and operational continuity.
While this integration with TON marks a significant milestone, RedStone is also actively pursuing partnerships with other major blockchain ecosystems, including Ethereum and Avalanche (AVAX), underscoring its broader mission to deliver cross-chain data feeds.
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