What Does a Relayer Do?
A relayer is a system or component that acts as an intermediary to facilitate the communication or transfer of data between different systems. In the context of blockchains, relayers are responsible for relaying data from an off-chain source to a blockchain in a way that is appropriately formatted and verified. RedStone has its own set of relayers for data feeds to be moved on-chain.
What Changed for RedStone’s Relayers?
For RedStone, relayers are responsible for taking data from RedStone’s data availability layer, where data is stored off-chain, and then relaying it to smart contracts of dApps. Originally, every price feed provided by RedStone had its own dedicated relayer integrated into a blockchain. Now, RedStone can use a single relayer to provide multiple price feeds.
Why is This Improvement Significant?
Relying on a single relayer for a series of price feeds reduces the risks associated with managing an extensive network of relayers that need to be monitored and maintained. Additionally, relying on fewer relayers allows for faster and easier deployment of price feeds. This makes it quicker and easier for dApp developers to integrate RedStone’s data feeds. Finally, it makes it easier for external parties to participate in the process of updating prices on-chain, as RedStone is built to allow anyone to participate in the process of pushing data on-chain.
About RedStone
RedStone is the quickest growing modular oracle delivering diverse, high-frequency data feeds to EVM Layer1, Layer2, Rollup-as-a-Service networks, and beyond, i.e., Starknet, Fuel Network, Casper, or TON. By responding to market trends and developer needs, RedStone can support assets not available elsewhere. The modular design allows for data consumption models adjusted to specific use cases, i.e., capital-efficient LSTfi and early support of LRTs. RedStone raised almost $22M from Lemniscap, Blockchain Capital, Maven11, Arrington Capital, Coinbase Ventures, SevenX, IOSG, Stani Kulechov, Sandeep Nailwal, Alex Gluchovski, Emin Gun Sirer, and other top VCs & Angels.
