DeFi Oracle RedStone Launches AVS Testnet on EigenLayer
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Oct 23 2024RedStone's AVS Testnet Launch: DeFi oracle provider RedStone has launched its AVS testnet on EigenLayer, marking the first use of EigenLayer’s restaking technology to enhance security for oracles by adjusting collateral based on market conditions.
EigenLayer Developments: This launch follows the recent debut of EigenLayer's cryptocurrency EIGEN on major exchanges and highlights the platform's significant presence in the restaking ecosystem, despite facing a recent hacking incident on its official social media account.
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.
