In a bid to fortify security across the decentralized finance (DeFi) space, cybersecurity specialist Hexagate has harnessed the capabilities of eOracle technology to bring forth ‘The Gate Security Oracle’, a robust, machine-learning security solution for developers building on blockchain platforms. The advanced security protocol, a first in the industry, is designed to protect on-chain protocols from external threats such as cyber-attacks.
Unveiled on Tuesday, The Gate Security Oracle distinguishes itself by employing the Oracle Validated Service (OVS) model to provide developers with a robust “DeFi firewall.” This dynamic line of defense aims to quell potential security threats before they wreak havoc, enhancing the overall security and integrity of operations.
Yaniv Nissenboim, the Co-Founder and CEO of Hexagate, shed light on the innovative security solution during its launch. He highlighted the urgent need for the decentralized ecosystem to transition towards decentralized security. He believes that this partnership with eOracle is a leap in the right direction, marking a commendable stride towards crafting a more secure DeFi environment with their groundbreaking OVS model.
Existing concepts of blockchain modularity are pushed into the middleware space by OVS, offering fast connectivity and computation bandwidth for infrastructure applications that demand it the most.
DeFi platforms often grapple with the blockchain trilemma, a paradox that forces them to compromise on security, scalability, or decentralization. Existing design trade-offs often compel projects to forgo decentralization for the sake of security or functionality.
A beacon of hope in this predicament is the introduction of EigenLayer, a novel staking protocol that mitigates the compromise between centralization and security. EigenLayer, which incorporates Actively Validated Services (AVS), features blockchain-based applications that are secured by on-chain validators who stake vast amounts of ETH to ensure their safety.
eOracle, a foremost AVS on EigenLayer, facilitates developers to negate trade-offs by leveraging restaked ETH, assuring security for modular oracle networks through a generous security expenditure.
eOracle takes pride in a resilient crypto oracle solution, boasting over $5B of restaked ETH fortifying its oracle network and a global base of more than 120,000 stakers and over 110 validators.
Matan Si, the founder of eOracle, has voiced optimism about the future of his brainchild, saying that the launch of eOracle is set to revolutionize the practicality of Ethereum’s security architecture. He added that the security layer, designed for both data and computation, utilizes Ethereum validators and staked ETH for shared security. He envisages a modular future and expects AVS to catalyze a wave of innovative solutions akin to Layer 2 solutions.
