Azuro Partnerships: Cross-Chain Oracle Solution — SupraOracles
We are pleased to announce another exciting partnership with a truly decentralized oracle network, SupraOracles. Oracles play a key role in the Azuro ecosystem by acting as the bridge between centralized betting data and the decentralized protocol. The oracle space is a competitive area of web3 with many projects striving to be completely decentralized and to provide a consensus algorithm as a solution to the “oracle dilemma”. SupraOracles believe they have finally solved the dilemma with their unique approach to the technology. Here is a bit about their background and how they operate.
SupraOracles aims to provide a revolutionary oracle toolset for the developer community, allowing them to easily construct, deploy, and manage data applications with superior performance, robustness, and agility. The team includes experts with backgrounds in consensus mechanism design, randomness research, real-time data services, investment banking, digital securities, traditional stock exchanges, big data, Ph.D. academia, big 4 consulting, blockchain/DLT, and DeFi.
Supra is a high throughput layer 1 with native oracles and bridged smart-contract-triggers to create an automated network able to have cross-data feeds between private DLTs, public blockchains, and traditional legacy infrastructures that can triangulate read/write and query functions to either of the other two.
The crux of SupraOracles’ innovative breakthroughs has been achieved through their novel nested multi-helix node architecture of “Tribes” and “Clans” which allows for parallel processing by leveraging powerful cryptographic primitives, such as threshold cryptography, next-gen distributed key generation, and random sampling. To date, there is no other consensus algorithm that provides more security against node collusion which historically, as you know, has caused cataclysmic liquidations of assets on-chain. SupraOracles collectively believe that they have finally solved the oracle dilemma.
Azuro x SupraOracles
Azuro uses Oracles to provide the initial odds for markets and resolve them by providing results. In the case of the Azuro and SupraOracles this will be in the form of match/game metadata, odds and results for sports, eSports, and also focussing heavily on GameFi. SupraOracles also provide native oracles for dynamic NFTs which could play an important part in the future of betting slips on Azuro and create even more opportunities for novel decentralized betting features.
The Azuro protocol was always intended to be multi-chain, with an aim to launch on the top chains (starting with EVM compatible blockchains first). SupraOracles being multi-chain and compatible with the top 10 layer 1 blockchains provides great scope for the future of the partnership. Cross-chain Bridges from SupraOracles will allow for players to be able to swap assets between chains meaning that users will be able to bet on any frontend built on Azuro, regardless of the chain, with a lot more ease.
SupraOracles have partnered with some of the biggest names in web2 and web3 including centralized fintech giant MasterCard and web3 household names such Crypto.com, Binance, FTX, and many more, so it is great to see Azuro joining their roster. We look forward to working with them and providing a trustless and truly decentralized betting experience for players.