PRESS RELEASE BY GORA
Gora is excited to take the first step in its multi-chain journey with the launch of testnet smart contract on Arbitrum. Developers can now begin writing the first network calls while Gora is in Beta mode. The mainnet launch for Arbitrum will be pending an audit and is expected to take 1–2 months.
The testnet launch comes well ahead of the initially planned November timeline as outlined in our roadmap. This early integration empowers users to instantly access dependable and up-to-date data within the Ethereum Layer 2 ecosystem.
Undoubtedly, this achievement marks a significant milestone for Gora, substantially expanding the reach of our oracle solution and enhancing its ability to offer real-world data to a broader range of smart contracts, promoting enhanced interoperability across various platforms.
Better than a Bridge.
By integrating its oracle data feeds with Arbitrum, Gora takes another leap toward achieving a seamless, interconnected blockchain ecosystem. By having smart contracts that can accept and respond to requests on both networks, dApps building on both chains can build
On each blockchain network, outside chains are part of the external world. As such, Gora’s Oracle network is in a prime position to connect chains by transferring the data from one chain to another.
Gora’s node operators are able to read and write directly to connected chains, then reach consensus to ensure the data is accurate. This makes Gora the next best thing after being on the same chain.
A Glimpse into Arbitrum
Arbitrum is a Layer 2 scaling solution designed to enhance the capabilities of the Ethereum blockchain. Built by Offchain Labs, Arbitrum aims to address Ethereum’s scalability issues by significantly increasing throughput and reducing transaction costs while preserving the security and decentralization that make Ethereum so valuable.
Layer 2 scaling solutions operate “on top of” existing blockchains, offering a way to process a high volume of transactions without congesting the main network.
One of the primary advantages of Arbitrum is its scalability. By processing most transactions off-chain and bundling them into a single on-chain transaction, the network can handle a far greater volume of transactions compared to the main Ethereum chain.
With fewer transactions congesting the main network, transaction fees remain manageable. Users can transact on Arbitrum without worrying about exorbitant gas fees. Faster transaction processing translates to reduced latency, enabling near-instant confirmation times for users.
By going live on Arbitrum, Gora can now provide its services to a wider range of users, including developers, businesses, and governments in this L2 Ethereum Blockchain. This is a significant development for the oracle industry as a whole. It demonstrates the growing maturity of the industry and the increasing demand for real-world data and computation from smart contracts in every chain. Gora aims to be the leading solution in the cross-chain oracle space.
“Launching on Arbitrum is a pivotal step towards a more interconnected blockchain landscape. It’s a testament to Gora’s commitment to seamless integration and providing top-notch data solutions for the crypto community.” — Abdul Osman, CEO of Gora
This strategic expansion marks a significant milestone for both Gora and the blockchain community. It fosters the growth of decentralized applications and DeFi projects and paves the way for an interconnected blockchain future, this groundbreaking move not only opens doors for diverse projects using Gora real-world data feeds in Arbitrum but also propels the Gora Network into a new realm of possibilities.
Why It Matters
- Enhanced Capabilities: With Gora data feeds on Arbitrum, projects can access accurate and timely data to optimize their functionalities in the EVM ecosystem. From price tracking to triggering actions, the integration fosters improved decision-making.
- Diverse Applications and Interoperability: The integration empowers a range of projects, not just in the financial sector, but also in the gaming industry and beyond, to leverage Gora’s data feeds and computation abilities for their unique needs.
- Algorand’s Expansion: This integration marks an expansion of Gora’s capabilities to Algorand’s original blockchain, reinforcing Gora’s mission to bring data feeds to different blockchain ecosystems. The connection provides a seamless interoperability layer where Algorand and Arbitrum dApps can now build solutions that make use of each other’s data.
- Trust and Reliability: Gora’s established reputation for reliable data ensures that projects on EVM Arbitrum can operate with the confidence that their smart contracts are built on accurate and fast information.
In conclusion, the integration of Gora data feeds into the Arbitrum blockchain is more than just a technical achievement — it’s a decisive step towards a more interconnected, efficient, and dynamic blockchain ecosystem.
With this expansion, Gora continues to lead the charge in shaping the future of decentralized technologies. Gora’s commitment to delivering secure and transparent oracle solutions makes the way for the future of decentralized applications and cross-chain projects.
Embrace the power of seamless data access with Gora and unlock new possibilities in the interconnected blockchain universe.
About Gora
Gora is a leading oracle platform that provides secure, reliable, and decentralized data feeds for different Blockchains. With a mission to enable seamless data integration for smart contracts, Gora empowers projects to make data-driven decisions and unleash the full potential of dApps.
Stay tuned as we embark on this exciting journey towards a more inclusive, efficient, and secure crypto landscape. Together, we are shaping the future of the Blockchain, one block at a time.
For more information about Gora, visit our Linktree.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools”
