Will The Launch Of Chronicle Protocol Be A Game Changer For Blockchain-Based Services?

Chronicle, the second-largest oracle provider, is set to extend its reach beyond the MakerDAO ecosystem, launching a new protocol to make oracles available on various networks. The Chronicle Protocol will initially roll out on Polygon zkEVM, which represents a thrilling innovation in the realm of Ethereum ETH/USD-compatible blockchain technologies.

As CoinDesk reported on Tuesday, this expansion is aimed at servicing the rapidly growing ecosystem and laying the groundwork for integrating Chronicle's key partner, Spark Protocol.

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Oracle networks, such as Chronicle, are pivotal in providing reliable data to blockchain-based services and products. The Chronicle Protocol is expected to use an estimated 60% less gas fees compared to other providers, a crucial factor in driving platform usage.

Chronicle will also introduce a dashboard allowing users to trace the origin of required data, enhancing on-chain data transparency. The service will utilize data supplied by over 22 node operators like Infura, Etherscan, Gnosis, Gitcoin, Argent, MakerDAO, and dYdX.

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Chronicle founder, Niklas Kunkel, emphasized the significance of secure, cost-efficient, and verifiable Oracles for the integrity of DeFi. He added, “Our commitment to delivering secure, cost-efficient, and verifiable Oracles has driven the development of this market-leading release.”

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