DeFi
eOracle and Hexagate Introduce Gate Security Oracle to Establish “DeFi Firewall”
Vladislav Sopov
Gate Security Oracle Uses eOracle Stack to Protect DeFi Users as First ML-Based Security Protocol
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Hexagate, a leading real-time Web3 security company, launches Gate Security Oracle, built on the eOracle stack, the leading AVS on EigenLayer. The new product is expected to significantly improve the security and decentralization of the staking (resttaking) segments and DeFi as a whole.
eOracle and Hexagate Launch Gate Security Oracle
According to the official statement of eOracle And HexagateIts joint solution, Gate Protocol Security Oracle, will set new standards in security for the ETH staking scene. eOracle, the leading AVS protocol for staking and validator network, uses re-staged ETH to ensure modular oracle networks remain secure with its massive and efficient security budget.
With the launch of EigenLayer Actively Validated Services (AVS), which leverage the security of billions of dollars of ETH locked for the re-staking protocol, the tradeoffs between centralization and security can be overcome by deploying services that leverage the inherent security of staked ETH.
Currently, eOracle reaches over $5 billion of staked ETH backing its oracle network, with over 120,000 stakers and 110+ validators spread across the globe, making it the most resilient crypto oracle solution in terms of crypto-economic security.
Matan Si, founder of eOracle, emphasizes that the introduction of such a service is a natural step in the evolution of resttaking infrastructure:
When we started building eOracle, we aimed to closely follow the Oracle EIP proposals laid out by Justin Drake and Vitalik Buterin. However, we quickly realized that while Ethereum offers an ideal architecture, it is not practical for most use cases. Heavy computation and fast connectivity require a dedicated, immutable layer. To solve this problem, we built eOracle as a modular, programmable layer designed for both data and compute. This system leverages Ethereum validators and staked ETH to provide shared security.
He also stressed that future decentralized solutions will be modular and will overcome major shortages of existing L1/L2 infrastructure.
New Product Showcases Opportunities of Oracle Validated Service (OVS) Model
Yaniv Nissenboim, Co-Founder and CEO of Hexagate, is excited about the role of the new development in advancing the level of decentralization in the DeFi segment:
The decentralized space also needs decentralized security. To move in this direction, we decided to partner with eOracle, because the OVS model represents a revolutionary innovation that enables modularity of the middleware layer. We are really excited about this and believe that it will trigger a new wave of innovation in this space.
OVS extends the existing concept of modularity for blockchains into the middleware space, providing fast connectivity and compute bandwidth for infrastructure uses that require it.
As previously reported by U.Today, SSV Network has reached the $1 billion milestone in staked Ether (ETH) and has released an ambitious, updated roadmap for the coming months.
About the Author
Vladislav Sopov
Blockchain analyst and writer with a scientific background. 6+ years in computer analysis, 3+ years in blockchain.
I have worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)