Cartesi announced that the Noether sidechain’s Delegated Staking technology is now operational on the Ethereum network. The firm is also excited about the two Chainlink Price Feeds linked to enable the Delegated Staking system. The first is a decentralized Oracle price powered by Chainlink for the present ETH/CTSI price and is used to determine user staking incentives. The second method includes using the Chainlink Fast Gas Oracle to reimburse investors for gas expenses appropriately.
Cartesi boosts the dependability and transparency of Delegated Staking systems by incorporating Chainlink decentralized oracles and protecting them against possible attack vectors such as flash failures, exchange outages, or data tampering. This Delegated Staking system carries more transparency and security, as it continues to follow worldwide markets and work as planned.
The firm decided to upgrade oracle ETH/CTSI through Uniswap V3 TWAP with the Chainlink Price Feeds as it provides optimizations like:
- Price Precision
Chainlink Price Feeds gather data from various top data aggregators, resulting in price data compiled from exchanges and free of outliers. The data aggregation technique used by Chainlink creates more exact global market prices that are immune to difficulties with a single or limited number of data suppliers.
- Secure Node Operators
Free and Sybil-resistant oracle nodes managed by top Blockchain DevOps teams and traditional organizations with a track record of uptime, amid high gas prices and significant network congestion, protect Chainlink Price Feeds.
- Decentralized Networks
Chainlink Price Feeds are decentralized at the resource data, oracle node, and high oracle network levels, resulting in robust defenses against outage and tampering by the data providing firm or the oracle networking server.
- Complete Transparency
Chainlink offers a sophisticated reputation system and a set of on-chain monitoring tools that allow users to independently evaluate the previous performance by node operators along with oracle networks. They can also examine the real-time pricing.
Importance of Chainlink
Oracles are critical components of each blockchain ecosystem. They allow smart contracts to view a step ahead of the blockchain on which they are running. Oracles are a vital bridge to unleash the full possibilities of smart contracts, connecting data from other blockchains to real-world occurrences.
Chainlink is the market leader in delivering safe oracle solutions for blockchain applications, assisting in the security of billions of dollars of on-chain assets across various leading blockchains and applications. Cartesi is also happy with the Chainlink serving as the Noether sidechain’s eyes, assisting Noether staking pool operators in receiving more secure and equitable rewards amid gas spikes and CTSI pricing variations.