Muon's Advantages Over Existing Oracles
Generally speaking, oracles have been centralized; that is, only authorized entities have the right to sign requests and decide on what to be listed. Centralization makes oracles permissioned and can be the cause of security risks.
Oracles today face a similar problem that exchanges encountered a few years ago: centralization. Listing a token on a centralized exchange is a lengthy, tedious and costly process. In addition, CEXes are not secure and funds may be stolen. Decentralized exchanges have solved both problems.
Muon is creating a decentralized oracle network that enables secure data feeds. Muon oracle network offers three major benefits over existing oracles:
- Permissionless: Muon is truly permissionless; adding nodes to the network and running apps on it do not depend on any centralized authority.
- Secure: The Muon network is highly secure because wrong data cannot be fed into these services by hacking a few third-party authorities who sign data requests. This is made possible through a security strategy that includes three independent components: Threshold Network, Optimistic Network, and Shield Server. This architecture eliminates the need for an authorized entity and any centralized third party interference.
- Flexible: The Muon oracle network is not restricted to one specific oracle application; projects can develop and deploy their own oracle apps on Muon.