More than trust, Web3 data needs verifiable foundations
Code is law is one of the core tenets of the blockchain world, representing a trust model that does not require third-party intermediaries. However, we often overlook one point: if the data input to a smart contract is itself erroneous or compromised, then even the most perfect law will render incorrect judgments.
In high-value scenarios such as DeFi lending and derivatives trading, the authenticity and reliability of data are lifelines. A minor data error could lead to millions of dollars in losses. Therefore, Web3 needs a data source that is not only trustworthy but also verifiable.
What Chainbase is building is such a trust layer for data. It ensures that the data provided to developers and applications is not only accurate but also that its source and processing can be traced and verified through a decentralized network and cryptoeconomics design.
It's like stamping every piece of data with an unforgeable official seal. With this solid data foundation, the myriad applications built on it in the future can truly be stable, allowing users to confidently entrust their assets to this decentralized world.
