A decentralised network to turn real-time data streams and blockchain events into a processed, validated & stored on-chain dataset used to move on-chain assets and update blockchain state.
This project is a new decentralised network of nodes that work together to facilitate an ETL (extract, transform, load) network.
The network is capable of:
The goal here is to offer a more transparent alternative to traditional oracle networks for producing on-chain data & transactions from off-chain data sources.
The problem with traditional oracle networks is that they require a centralised API to expose some pre-processed data for a Smart Contract to retrieve data from. This means that for a Smart Contract to move assets based on off-chain data, there is still a centralised authority governing & controlling the movement of said assets through the data that is exposed to the integrated Smart Contract.
The benefits of using such a platform include:
The ETL network uses the Kyve Blockchain as a mechanism for achieving consensus by data validation. The Kyve Blockchain is a new (unsponsored) blockchain that enables the operation and coordination of a customised node network, referred to as a "Kyve Pool", responsible for archiving blockchain data onto the Arweave Blockchain in a decentralised manner.
The ETL Network is a "hacked" version of this node network operated by the Kyve blockchain.
Rather than archiving blockchain data from a single blockchain source, as is the intent with a "Kyve Pool", the ETL Network is "hacked" to
During this hackathon, we integrated Polygon (sponsored), Ethereum, and Streamr Network (sponsored) as our sources of event data. Polygon is a widely used, fairly costed Layer 2 blockchain that we believe is a perfect candidate for integration due to its adoption. Streamr Network allows for the transport of event data from Web, Mobile and Server applications to a decentralised network of nodes, such that these events can be processed by the ETL Network.
I'm impressed by how well the team understood the technology architecture and instructions for the development of the nodes.