Understanding Chronicle
Welcome to Chronicle Protocol​
Chronicle is an independent verification infrastructure provider founded in 2017 within MakerDAO. Chronicle built the first oracle on Ethereum and has continuously operated onchain data infrastructure through multiple market cycles. Its products include Proof of Asset for institutional holdings verification and DeFi price feeds, collectively securing billions in assets across institutional and onchain financial platforms.
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 number of validators 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 Sky, 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), currently securing over $13B in DeFi and tokenized assets. Please note that DefiLlama currently tracks only DeFi assets for oracle TVS metrics.