Understanding Chronicle
Welcome to Chronicle Protocol​
Chronicle Protocol is a novel Oracle solution that has exclusively secured over $10B in assets for MakerDAO and its ecosystem since 2017. With a history of innovation, including the invention of the first Oracle on Ethereum, Chronicle Protocol continues to redefine Oracle networks. A blockchain-agnostic protocol, Chronicle overcomes the current limitations of transferring data on-chain by developing the first truly scalable, cost-efficient, decentralized, and verifiable Oracles, rewriting the rulebook on data transparency and accessibility.
Why Chronicle​
Cost Efficient
While other Oracles rely on the Elliptical Curve Digital Signature Algorithm (ECDSA), which creates a one-to-one relationship between the number of validators and their signatures, Scribe utilizes a novel application of Schnorr Signature cryptography. This allows the consolidation of signatures from a scalable set of validators into a single "super signature" that is then verified by ECDSA. The result? A near-constant gas cost for Oracle updates, regardless of how many validators are involved.
Scalable
The ingenious application of Schnorr Signature cryptography allows Chronicle Oracles to achieve scalability by decoupling the validator number from the gas cost.
Verifiable Data
The Dashboard ensures verifiability at every level. Users can cryptographically verify any Validator's Signature in the browser, as well as the Schnorr Signature used to push the price onchain to the corresponding Oracle.
Plug & Play
The protocol architecture prioritizes accessibility. Chronicle is a blockchain-agnostic protocol that can be deployed easily to almost any chain. Chronicle Oracles offer seamless integration capabilities, allowing them to be incorporated into existing protocols on supported chains within minutes.
Decentralized
Chronicle’s validators are run by the community. Given the decoupling of the number of validators and gas costs, Chronicle enables greater decentralization, delivering more security and more resilience at a near-constant price.
Reputable & Secure
Chronicle’s validators are represented by a community of leading blockchain protocols including MakerDAO, Infura, Gitcoin, Etherscan, Gnosis, DeFi Saver, and more. This approach is unique to Chronicle and ensures that the Oracle data is being signed by some of the most trusted and reputable projects in the blockchain space, further reinforcing trust in the protocol.
Chronicle is the second largest Oracle provider by Total Value Secured (TVS) and currently secures around $6B for reputable protocols such as MakerDAO.