Entangle has launched its Universal Data Feeds. A new primitive providing a novel approach on how developers, decentralised applications and smart contracts interact with data.
This innovation advances beyond traditional data oracles by introducing a modular mechanism that standardises data streaming into a universal format, allowing for smart contracts to seamlessly access a diverse range of Web2 and Web3 data across any network.
Challenges in Traditional Data Oracles
Entangle recognizes the limitations in speed, availability, authentication and customizability with the current data oracle landscape:
Data Availability Developers need access to a variety of data from both Web3 and Web2 sources to create valuable and innovative applications. The Web3 ecosystem currently lacks seamless infrastructure to provide this much needed facility.
Customization of Data logic: Currently available solutions lack the capability to allow the tailoring of data processing such as calculation and execution logic, to suit unique and complex use cases.
Cross-Chain Limitations: Traditional oracles struggle to provide efficient data dissemination across various networks often confined to a limited number or type of blockchain.
Data Authentication: A lack of authenticated, verifiable on-chain data including the mechanics to verify integrity, exposes decentralised applications to security risks and potential data manipulation.
Entangle's Universal Data Feeds offer a transformative approach to data collection processing and delivery for decentralized applications. The solution offers unparalleled customization and data availability, allowing distributors to set their transmitters, set logic and parameters whilst selecting preferred on-chain data streaming models. This new innovation entails the following key features:
Unified Collection and Processing: Decentralised applications are now empowered to bring any data from any source across Web2 and Web3. Developers can now write a module for processing/finalising data and select a scheme for dissemination.
Interoperable Infrastructure: Smart contracts can access Universal Data across any chain or any source. Universal Data feeds seamlessly deliver data across both EVM and non-EVM networks
Customizability: Developers no longer need to rely on one-size-fits-all oracles or build their solutions from scratch. The solution allows for customizability of the data processing workflow, such as calculation and execution logic to suit their unique use cases.
Push and Pull: Entangle provides developers with the choice of push or pull models for data delivery, allowing for timely updates or cost-effective on-demand retrieval to suit application needs.
Real Token Utility ($NGL): Fees from all data feeds will be distributed to validators, transmitter agents, and their delegates.
Data Security and Decentralization: The Entangle Blockchain serves as the Hub for authenticated and on-chain storage of data, secured by a network of over 100 validators. Additionally, Entangle deploys Dual Proof-of-Collateral mechanics, requiring not only validators, but also Transmitter Agents to stake Entangle’s native tokens.
How Universal Data Works
Universal Data Feeds (UDF) offers the collection and delivery of a broad spectrum of data, from pricing information to more complex data sets. Each data type is assigned a unique ID, and necessary libraries are created for on-chain finalisation, ensuring a unified format for streamlined integration.
The following is a non-exhaustive list of Web3 use cases unlocked by Universal Data Feeds:
Composability of Yield Assets (Liquid Vaults): Facilitating the collateralisation of yield-bearing tokens (LPs) by providing varied data sets imbued with logic in order to meet money market and derivative protocol needs.
Cross-Chain Dynamic Gaming Assets: Enhance gaming experiences with dynamic mechanics such as upgradeable NFTs and efficient asset transfers across blockchains.
RWA Tokenization: Seamlessly integrate diverse data from off-chain sources and repositories for accurate and secure tokenization of real-world assets (see illustration below).
Entangle's 2024 Roadmap
As we gear up for our mainnet launch in February 2024, Entangle is set to support over 13 blockchain networks for cross-chain communication, integrate with 50+ DApps, and showcase the power of Universal Data Feeds.
Our partnerships span across leading ecosystem protocols, showcasing our commitment to build a unified, efficient and scalable Web3.
A New Standard
With Entangle's Universal Data Feeds, this is not just another product launch. We are pioneering a new approach to Data in Web3 and unlocking a new stream of use cases.
Stay tuned for our upcoming launch and be a part of this exciting journey.