How Truflation’s Decentralized Data is Benefiting DeFi Developers
With over 2 year's experience in finance and the crypto sectors, Jose uses his knowledge and expertise to breakdown complex topics into bitesize content for both beginners and experts.
Access to reliable real-time data is vital for DeFi developers tasked with building the next wave of novel financial products. This is why the blockchain oracle market has grown tremendously in recent years, with the demand for providers’ services seemingly on a neverending climb.
By bridging real-world data to blockchain networks, oracles enable smart contracts to execute actions based on off-chain inputs, like equipping an old computer with high-speed internet access.
There are certainly many players active in the Oracle market, but one has been turning heads of late due to its use of decentralized data to manage inflation risk. Since its emergence in mid-2021, Truflation has brought on-chain data delivery to the worlds of TradFi and DeFi, giving builders the tools they need to create cutting-edge finance solutions. So, what’s the new tool, and how might it be useful?
Before we get onto the new tool, here is a word about the platform’s central pillar – the Truflation Stream Network (TSN). An independent, transparent, and censorship-resistant oracle that furnishes DeFi developers with a reliable source of real-time data, the TSN has been a godsend for countless on-chain protocols that need accurate, up-to-date, and untampered information in order to function effectively and maintain user trust.
Centralized data sources are popularly known to fall short of meeting these requirements. For this reason, the TSN operates as a decentralized physical infrastructure network (DePIN), complete with globally distributed data providers, node operators,
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