RedStone, a blockchain oracle provider, has launched a push-based oracle on MegaETH, specifically designed to reduce latency in on-chain trading. The new oracle reportedly delivers price updates every 2.4 milliseconds, making it an efficient solution for trading operations. Initially available on MegaETH, an Ethereum layer-2 network, RedStone plans to extend this oracle to other blockchain networks in the future. The oracle pulls price data from centralized exchanges and transmits it directly to applications or smart contracts through nodes that natively operate on the MegaETH chain, effectively minimizing latency caused by physical server distances. RedStone intends to incorporate price feeds from decentralized exchanges later on. The oracle market, currently valued at $10.2 billion, has seen significant growth alongside decentralized finance (DeFi), which has about $88 billion locked on-chain. Popular oracle networks such as Chainlink and Pyth are also notable players in this space.

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