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— API3 (@API3DAO) June 19, 2024
Enhancing Scalability and Security on Scroll
Scroll’s zero-knowledge proof-based Layer 2 solution provides an Ethereum application platform with scalability and efficiency. On the flip side, incorporating API3’s Oracle Stack into Scroll expands its suite of high-throughput applications, under the backdrop of a highly-secure framework vital for the likes of DeFi operations.
By utilizing API3’s oracles, as a part of Scroll’s infrastructure, applications can provide real-time market data without adding layers to existing architectures with compromising speed, which can be critical for DeFi.
In addition, by leveraging API3’s first-party oracle nodes, operated by data providers themselves, the data not only comes from a decentralized source, but also directly from a dolefully accurate source. This model also eliminates the middlemen we have in traditional data provision that contribute to likely points of failure and thus increase the reliability of the data feeds.
So, Scroll’s integration of API3’s Ethereum-based Oracle Stack represents more than another cog in a decentralized application; it should also spark further ingenuity in the greater DeFi sector. This provides a powerful suite of tools for developers to build richer, more dynamic, and more responsible applications, pushing the boundaries of what is possible with blockchain technology to achieve a more open and inclusive financial system.
As the partnership between API3 and Scroll matures, the potential for new applications and use cases is boundless. Extending beyond simple swapping and trading, the partnership will revolutionize DeFi possibilities from streamlined liquidity management across platforms to complex financial products.
This is not a simple tech integration, but one step closer to opening up fully autonomous, secure and efficient financial services to everybody, regardless of any geographic or economic line that divides us all.