What is RedStone (RED)?
RedStone is a decentralized data oracle platform that provides customizable data feeds for DeFi applications. It connects real-world data with blockchain smart contracts and supports various DeFi protocols across multiple blockchain networks.
RedStone uses a modular architecture to offer scalable data solutions based on protocol requirements. Instead of continuously pushing data onto the blockchain, it uses a pull-based model, where data is retrieved on-demand and integrated into transactions only when required.
This method reportedly reduces gas costs and improves efficiency, making it useful for developers on networks like Ethereum and Layer 2 solutions. RedStone supports over 60 blockchain networks, including Ethereum, Avalanche, Polygon, Arbitrum, Movement, and Sonic, enabling cross-chain compatibility.