Modular Oracle RedStone Surpasses $6.6 Billion in Total Value Secured

The modular oracle service RedStone announced on the 31st (local time) that it has achieved a Total Value Secured (TVS) of $6.6 billion. TVS is the sum of the total value locked (TVL) of protocols using the oracle network. Oracle systems are services that help securely transmit external data in decentralized networks.

RedStone significantly expanded its scale after raising $15 million in a Series A round led by Arrington Capital in July this year. It has since established itself as the exclusive oracle for the intellectual property (IP) layer through a partnership with Story Protocol and is currently recognized as the fastest-growing oracle service.

Currently, the blockchains that have adopted RedStone's oracle include over 50, such as Ethereum (ETH), Polygon (POL), Solana (SOL), and Arbitrum (ARB), providing data for more than 1,000 assets.

RedStone stores data in the permanent decentralized data storage Arweave and transmits it to Ethereum Virtual Machine (EVM) compatible blockchains to prevent tampering and ensure reliability. Unlike traditional single-structure oracles, it adopts a modular structure, making it easy to integrate new assets and increase data transmission speed to support Dapp growth.

Single-structure oracles have all functions integrated, making modifications and expansions difficult, but the modular structure provides flexibility and scalability with independent modules for each function. It adopts a pull method, different from the traditional push method that continuously applies data to the blockchain, allowing data to be retrieved only when needed, reducing costs.

RedStone stated, "We aim to go beyond simple oracle services, overcome the limitations of oracle systems, and establish ourselves as essential infrastructure in the blockchain ecosystem."

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