Episode 179 - Chronicle - How Oracles Are Paving the Way to a Truly Decentralized World

Crypto Altruists: Real-World Stories of Social & Environmental Impact with Web3

In episode 179, we’re excited to welcome Jennifer Senhaji, Head of Growth at Chronicle, to discuss the importance of Oracles in Web3’s future. We discussed the challenges facing oracles today, how Chronicle is advancing the data infrastructure needed for a truly decentralized world, and some of the incredible social impact use cases that oracles have supported. Jenn will also share insights on the role of zero-knowledge proofs in data privacy, Chronicle’s partnership with MakerDAO securing $20B in value, and her vision for the future of oracles in a decentralized world.

--Key Takeaways--

• Oracles are a critical piece of plumbing behind the Web3 ecosystem, playing an essential role in building the data infrastructure bridging the traditional and onchain worlds.
• As an essential piece of Web3 infrastructure, Oracles must be built resiliently. If Oracles were to fail, it would have a massive, cascading effect on the DeFi and Web3 ecosystems, resulting in liquidations, financial loss, and possible collapse of vital DeFi projects.
• Given the key role of Oracles, it is important that they are decentralized to help bolster their security.
• Oracles can bring a high degree of transparency to financial institutions that have traditionally been opaque. They allow for third party neutral attestations, as opposed to having to rely on the single source of truth of the institution.

--Full shownotes with links available at--
https://www.cryptoaltruism.org/blog/crypto-altruism-podcast-episode-179-chronicle-how-oracles-are-paving-the-way-to-a-truly-decentralized-world
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--DISCLAIMER --
While we may discuss specific web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on potential investment opportunities, or any opportunity, before making an investment. We host a variety of guests on this podcast with the sole purpose of highlighting the social impact use cases of this technology. That being said, Crypto Altruism does not endorse any of these projects, and we recognize that, since this is an emerging sector, some may be operating in regulatory grey areas, and as such, we cannot confirm their legality in the jurisdictions in which they operate, especially as it pertains to decentralized finance protocols. So, before getting involved with any project, it’s important that you do your own research and confirm the legality of the project. More info at cryptoaltruism