Arrington Capital-backed RedStone launches Bitcoin staking oracles
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Oct 08 2024Launch of Bitcoin Staking Oracles: RedStone Oracles has introduced Bitcoin staking oracles that allow users to stake their Bitcoin and receive liquid staking tokens (LSTs) like Lombard Staked BTC (LBTC) on the Ethereum blockchain, marking a significant advancement in decentralized finance (DeFi) for Bitcoin.
Importance of Staking Oracles: These oracles are essential for verifying real-world data needed for LST functionality, enabling users to utilize LBTC for lending and other DeFi applications, thus potentially transforming the adoption of Bitcoin within the DeFi ecosystem.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
