Orakl Network’s 2024 Yearly Review: Leading the Way in Decentralized Oracle Solutions on Kaia

Introduction

Did you know that Orakl Network was the most active on-chain project on Kaia/Klaytn Square during July 2023 to July 2024? In this post, we’ll explore how Orakl Network is revolutionizing data feeds within the Kaia ecosystem, empowering various DeFi, gaming, and other blockchain applications.

Orakl Network’s Competitive Edge

Orakl Network stands out from other oracle services on Kaia by offering a comprehensive suite of features:

• Hybrid Approach: Supports both push-based and pull-based data feeds, providing flexibility for developers.
• Versatile Solutions: Offers request-response functionalities, VRF (Verifiable Random Functions), and Proof of Reserve features.
• Tailor-Made Solutions: Works closely with Kaia projects to develop customized oracle solutions.

This unique approach has enabled Orakl Network to secure partnerships with key players in the Kaia ecosystem, including Goldstation, K-BIT, SuperWalk, Bora, PER, and Landtorn.

Most active on-chain project on Kaia/Klaytn Square

Orakl Network was the most active on-chain project on Kaia/Klaytn Square during July 2023 to July 2024, based on the number of transactions compared to other registered projects. At that time, Orakl Network offered only push-based data feeds.

The new version of Orakl Network, released in May 2024, supports both push- and pull-based data feeds. Currently, Orakl Network provides 124 data feeds on both test and mainnet.

In addition, Bisonai contributed to Orakl Network’s development in 2024 by allocating its node’s staking rewards towards the funding of human resources and server infrastructure.

The Power of Pull-Based Feeds

Pull-based oracles empower developers with greater control and flexibility. Orakl Network’s pull-based data feeds offer two convenient access approaches:

REST API: A simple and straightforward way to retrieve data.

WebSocket API: Enables real-time data streaming for high-frequency applications.

Orakl Network processes between 1.3 million and 1.8 million requests weekly, demonstrating the growing demand for its pull-based solutions. The number of WebSocket subscriptions continues to increase as the main project, K-BIT, which utilizes Orakl Network, experiences significant growth.

Conclusion: A Proven Track Record of First-Mover Advantage

Orakl Network has been at the forefront of blockchain innovation, pioneering numerous first-use cases in DeFi, gaming, and other applications within the Kaia ecosystem. Our commitment to providing reliable, secure, and efficient data feeds has earned us recognition from leading projects in Kaia ecosystem and government agencies alike.

This endorsement solidifies our position as a key infrastructure provider in the Korean market.

Stay tuned for further updates on Orakl Network’s development! In the meantime, feel free to visit our website or follow us on social media to learn more about how Orakl Network can help your Kaia project.