Orakl Network Partners with K-BIT to Enhance Decentralized Trading on Kaia Chain
We are thrilled to announce a significant partnership between Orakl Network and K-BIT, the first decentralized perpetual futures exchange (PerpDEX) on Kaia Chain. K-BIT is pioneering new standards in decentralization and user experience, and as their first oracle provider, Orakl Network is proud to support them with our cutting-edge Off-Chain Aggregation technology.
Off-Chain Aggregation: Powering K-BIT’s Future
K-BIT is the first client of Orakl Network to make use of our Off-Chain Aggregation system. This innovative approach addresses key challenges faced by blockchain oracles by significantly increasing the number of data feeds, accelerating submission frequency, and lowering costs. With Off-Chain Aggregation, we eliminate the need for on-chain synchronization, making the process faster and more efficient.
Here’s how it works:
Decentralized nodes communicate to exchange their observations and reach consensus on the data. One node then submits this data, along with proof from each participating node, to the blockchain. The on-chain validation of this proof ensures transparency, similar to what users have come to expect from On-Chain Aggregation.
This allows K-BIT to offer a more responsive, scalable, and cost-effective trading experience without compromising on transparency or security.
Future Community Growth
Orakl Network is proud to support K-BIT as they pioneer the future of PerpDEX trading on Kaia Chain. Stay tuned for more exciting developments as we continue to work together to reshape decentralized finance.
👉 Link to K-BIT: https://app.k-bit.xyz/
New to Orakl Network?
Orakl Network is an easy-to-use native token oracle that supports Verifiable Random Functions (VRF), Request-Response, Data Feed and Proof of Reserve. You can learn about each of these functionalities at our documentation or dive directly to code with curated hands-on tutorials for each of our services: vrf-consumer, request-response-consumer and data-feed-consumer.
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