DeFi
Hexagate Strengthens DeFi Security with Revolutionary “Gate Security Oracle”
In an effort to enhance security in the decentralized finance (DeFi) space, cybersecurity specialist Hexagate has leveraged the capabilities of eOracle technology to deliver “The Gate Security Oracle,” a robust machine learning-based security solution for developers building on blockchain platforms. This advanced security protocol, an industry first, is designed to protect on-chain protocols from external threats such as cyberattacks.
Unveiled on Tuesday, The Gate Security Oracle stands out for using the Oracle Validated Service (OVS) model to provide developers with a robust “DeFi firewall.” This dynamic line of defense aims to stifle potential security threats before they wreak havoc, improving the overall security and integrity of operations.
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Yaniv Nissenboim, 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 to decentralized security. He believes that this partnership with eOracle is a step in the right direction, marking a commendable advancement towards creating a more secure DeFi environment with their revolutionary OVS model.
Existing blockchain modularity concepts are pushed into the middleware space by OVS, delivering fast connectivity and compute bandwidth for infrastructure applications that need it most.
DeFi platforms often face the blockchain trilemma, a paradox that forces them to compromise on security, scalability, or decentralization. Existing design tradeoffs often force projects to forgo decentralization in the name of security or functionality.
The introduction of EigenLayer, a new staking protocol that mitigates the tradeoff between centralization and security, is a bright spot in this predicament. EigenLayer, which integrates active validation services (AVS), offers blockchain-based applications that are secured by on-chain validators who stake vast amounts of ETH to ensure their security.
eOracle, a leading AVS on EigenLayer, enables developers to eliminate compromise by leveraging re-staked ETH, ensuring the security of modular oracle networks through generous security spend.
eOracle prides itself on a resilient crypto oracle solution, boasting over $5 billion of re-staked ETH powering its oracle network and a global base of over 120,000 stakers and 110+ validators.
Matan Si, the founder of eOracle, expressed optimism about the future of his idea, 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, uses Ethereum validators and staked ETH for shared security. He envisions a modular future and expects AVS to catalyze a wave of innovative solutions similar to Layer 2 solutions.