Hexagate, a Web 3 security company, has introduced ‘The Gate Security Oracle’, a new security protocol for decentralized finance (DeFi) applications. This protocol, built on the Electronic Oracle stack, aims to enhance security for dApps by allowing developers to utilize Hexagate’s machine learning models. The security oracle, announced on Tuesday, serves as a protection mechanism against hacks and other threats to on-chain protocols in the DeFi space. By leveraging the Oracle Validated Service (OVS) model, developers can access a “DeFi firewall” that helps prevent security risks and threats.
Yaniv Nissenboim, Co-Founder and CEO of Hexagate, emphasized the importance of decentralized security in the evolving ecosystem. Nissenboim highlighted the partnership with eOracle, noting the OVS model’s ability to promote modularity at the middleware layer. This collaboration is expected to encourage innovation in the DeFi space and push towards a more decentralized security infrastructure.
The launch of EigenLayer, a staking protocol, has introduced a new approach to addressing the blockchain trilemma, which involves balancing decentralization, security, and scalability. EigenLayer’s Actively Validated Services (AVS) provide additional security measures for blockchain-based applications outside the Ethereum Virtual Machine (EVM), ensuring protection through staking mechanisms. eOracle, as a leading AVS on EigenLayer, has garnered significant support with over $5B staked ETH securing its oracle network globally.
Matan Si, founder of eOracle, believes that the launch of eOracle has improved Ethereum’s security architecture, enabling developers to leverage the leading EVM blockchain’s security features effectively. By utilizing staked ETH and validators, eOracle ensures the security of modular oracle networks, addressing the need for a dedicated and immutable layer for heavy computing and fast connectivity. Si envisions AVS as the new standard for security architectures, offering a similar level of innovation as layer-2 solutions for scalability.
In conclusion, Hexagate’s launch of ‘The Gate Security Oracle’ and the advancements in decentralized security through EigenLayer and eOracle signify a significant step forward in addressing the blockchain trilemma. By prioritizing modularity, fast connectivity, and computational bandwidth, these initiatives aim to enhance the security and resilience of DeFi applications while promoting innovation in the decentralized ecosystem.
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https://www.newsbtc.com/news/company/web-3-security-firm-hexagate-launches-the-gate-security-oracle-leveraging-eigenlayers-avs-eoracle/amp/
