Bitcoin Suisse has entered into a partnership with Chronicle Labs and announces the support of the Chronicle Protocol as a validator node operator.
This latest partnership announcement highlights Bitcoin Suisse’s dedication to fostering infrastructure in the blockchain space, “enabling growth and innovation in the cryptocurrency ecosystems.”
As a validator node operator Bitcoin Suisse will provide infrastructure for the secure and decentralized delivery of verifiable data feeds “across blockchain networks, helping to ensure the integrity and reliability of crucial information in real-time for decentralized applications (dApps).”
Originally part of Maker DAO, Chronicle was reportedly the “first” oracle on Ethereum and has secured over “$20 billion in assets” for Maker DAO since 2017.
As of 2023, Chronicle spun out from Maker DAO as a separate entity and is the “second-largest oracle by total value secured and the largest oracle for real-world assets (RWA).”
Bitcoin Suisse is joining various blockchain protocols and organizations part of Chronicle’s oracle network.
These include some of the firms in the industry, such as Infura, Gnosis, dYdX, Etherscan, and Gitcoin.
Andrej Majcen, CEO and Co-Founder of Bitcoin Suisse, stated:
“This partnership with Chronicle aligns with our vision of backing key infrastructure in the blockchain space and fostering the ecosystem’s acceleration to its full potential. Chronicle is well-positioned for further growth, and we are excited to support its efforts while promoting them as a Zug-based project on an international stage, alongside industry-leading validators.”
With a history of innovation, Chronicle says that it continues to “redefine” oracle networks.
As a “blockchain-agnostic” protocol, Chronicle claims it overcomes the limitations of transferring data on-chain by developing the “scalable, cost-efficient, decentralized, and verifiable oracle, effectively rewriting the rulebook on data transparency and accessibility.”
Bitcoin Suisse continues to push the boundaries of blockchain tech by offering services, including trading, custody, staking, and lending solutions.
With this partnership, Bitcoin Suisse underscores its dedication to supporting “developments in decentralized finance and continues to actively shape the future of digital assets.”
Niklas Kunkel, Founder of Chronicle, said:
“Chronicle’s unique approach to data integrity and oracle technology is fundamental to the future of decentralized applications, and we are excited to help enhance the ecosystem’s security and transparency.”
Chronicle, the original oracle on Ethereum, is described as a “blockchain-agnostic Oracle solution that has exclusively secured up to $20B in assets for MakerDAO and its ecosystem since 2017.”
Chronicle’s mission is to deliver on DeFi’s (decentralized finance) vision of “transparency and decentralization.”
To solve the tradeoffs between security, decentralization, and cost, Chronicle spearheaded “a breakthrough in Oracle network architecture by developing Scribe, an extremely gas-efficient Oracle based on aggregated Schnorr signatures.”
In doing so, Chronicle says that it is raising the standard for Oracles by delivering “more security, more transparency, and more resilience, at a lower cost.”