Chronicle Protocol Joins zkSync Network, Transforming dApps with Secure, Cost-Effective Oracle Services

Chronicle Protocol has integrated with zkSync to provide secure and cost-effective price feeds to over 100 dApps within the ecosystem. This integration leverages the resilience of Chronicle's Scribe Oracle and the security and scalability of zk rollups. Scribe is the first Oracle designed to optimize gas consumption, reducing update costs up to 6x compared to Chainlink and 3.5x less than Pyth.

Chronicle Protocol Integrates with zkSync, Empowering dApps with Secure, Cost-Efficient Price Feeds

Chronicle Protocol, the pioneering Oracle solution, has announced the seamless integration with zkSync, Ethereum's leading Layer-2 scaling protocol. This collaboration unlocks a new era of decentralized, secure, and resilient price feeds for the vibrant zkSync ecosystem.

Scribe: A Revolutionary Oracle

Chronicle's integration features Scribe, the industry's first fully verifiable and cost-efficient Oracle. Scribe leverages Schnorr signatures, an innovative cryptographic technique, to dramatically reduce the operating costs associated with updating Oracle feeds by up to 6 times compared to Chainlink and 3.5 times compared to Pyth. This breakthrough enables dApp builders to harness the power of verifiable Oracle networks without compromising security or decentralization.

Seamless Deployment on zkSync Era

Scribe is now live on zkSync Era, providing real-time price feeds for key cryptocurrencies, including BTC/USD and ETH/USD. Additional price feeds, such as USDT/USD, USDC/USD, and WSTETH, are soon to follow. This integration grants immediate access to Chronicle's cost-efficient, secure Oracle services for over 100 dApps currently operating within the zkSync ecosystem.

Aligned Values: A Shared Vision

Chronicle Protocol's integration with zkSync is a testament to the shared values of both organizations. Both projects prioritize freedom, self-sovereignty, and decentralization, creating a foundational infrastructure that empowers builders and users alike.

Protecting Protocols and DeFi dApps

In the realm of DeFi, choosing a reliable Oracle is crucial for safeguarding protocols and their associated total value locked (TVL). Chronicle Protocol's Scribe empowers users with the necessary tools to assess and verify Oracle networks, ensuring the integrity and security of their protocols.

Transparency and Verifiability

Through Chronicle's on-chain dashboard, The Chronicle, users can access granular details about data sources, validators, and historical price feed values. This unparalleled level of transparency allows users to independently verify the integrity of the Oracle network, avoiding the pitfalls of blind trust.

Decentralized and Distributed Validators

Scribe utilizes a robust and distributed network of validators to ensure the veracity of reported data. This decentralized architecture mitigates the risk of malicious actors manipulating Oracle feeds, safeguarding the ecosystem against potential attacks.

Identifying Protocol Validators

Understanding the identities of Oracle validators is equally important as their number. Chronicle Protocol's validators are publicly identifiable and include well-respected entities such as MakerDAO, Infura, Gnosis, Gitcoin, Etherscan, and DeFi Saver. This transparency establishes a virtuous cycle of increasing security and decentralization.

Cost Optimization: Breaking Down Barriers

The high operating costs associated with Oracle networks have historically been a barrier to widespread adoption. Scribe's innovative design, powered by Schnorr signatures, slashes operating expenses, making verifiable and secure Oracle services accessible to a broader range of dApps.

Chronicle Protocol: A Trailblazer in Oracle Solutions

Since its inception on Ethereum in 2017, Chronicle Protocol has been at the forefront of Oracle innovation. The protocol's mission to redefine Oracle networks has led to the development of truly scalable, cost-efficient, decentralized, and verifiable Oracles, revolutionizing the way data is accessed and utilized in the blockchain ecosystem.

Contact Information

For further inquiries, please contact:

Peter Padovano
matterlabs@mgroupsc.com