Everything You Need To Know About Decentralized Oracles

Many in the world of DeFi have heard about and rely on oracles like Chainlink and Pyth Network for their trusted data feeds, but there is a new protocol that has enshrined oracles directly into it’s EVM Layer 1 Blockchain. 

In this episode Ian Andrews (CMO, Chainalysis) speaks with Co-founder and CEO of Flare Network, Hugo Philion.

Hugo shares his transition from hedge fund trading to blockchain and emphasizes the increasing need for decentralized data in an industry that heavily relies on information from data providers.

He breaks down Flare's architecture, offering cost-effective and secure data oracles, while being sure to differentiate their solution from existing systems that are vulnerable due to lack of decentralization and potential for collusion.

Hugo even explains how KYC and AML can be integrated by the developers building on Flare and how important regulation is to move the industry forward. 

Minute-by-minute episode breakdown

2 | Hugo’s journey from hedge funds, skipping AI and ML to get into crypto 

5 | Why Flare decided to build a L1 platform with enshrined oracles

8 | Examining why data in the crypto landscape is fundamentally broken

12 | What are enshrined oracles and why are they important?

17 | Introducing LayerZero and the solution to cross-chain interoperability issues

20 | Flare use cases with decentralized exchanges and DeFi projects

24 | Exploring huge oracle failures and lack of data providers in the industry 

29 | The emergence of regulation, KYC and AML in a decentralized crypto ecosystem  

32 | Flare announced new Flare Data Connector solution 

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

• Website: Flare: The blockchain for data, providing developers with secure decentralized access to high-integrity data from other chains and the internet
• Blog: Use cases enabled by LayerZero’s integration of Flare
• Solution: The Flare Time Series Oracle (FTSO)
• Podcast: The Future of Money Podcast: The Future of Decentralized Data
• Blog: 2024 Crypto Crime Mid-year Update Part 2: China-based CSAM and Cybercrime Networks On The Rise, Pig Butchering Scams Remain Lucrative
• Blog: OFAC Sanctions Russian Drone Developer KB Vostok Linked to Ukraine Invasion
• Article: Multiple arrests made in $14.4M Holograph hack investigation
• YouTube: Chainalysis YouTube page
• Twitter: Chainalysis Twitter: Building trust in blockchain

Speakers on today’s episode

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
• Hugo Philion (Co-Founder & CEO, Flare Network)

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