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As DeFi expands, the oracle market is facing competition from emerging providers challenging established players like Chainlink.
As decentralized finance (DeFi) continues to grow, the demand for oracles key tools that connect blockchains to real-world data is rapidly increasing.
Established providers like Chainlink are facing increased competition from new players as decentralized applications (DApps) require more efficient data delivery solutions.
RedStone co-founder and Chief Operating Officer Marcin Kaźmierczak noted that the oracle market has entered a new phase driven by innovation and multichain adoption, highlighting the rapid changes in DeFi and the potential reshaping of oracle providers.
Scaling a Multichain Ecosystem
Kaźmierczak stated that the rise of Layer-2 networks and non-Ethereum Virtual Machine (EVM) chains, such as The Open Network (TON) and Starknet, has exposed scalability limitations in existing oracle designs.
“When Chainlink was created, there was no such thing as L2 or DeFi on multiple L1s, therefore, the design wasn’t optimized for multichain delivery.”
Kaźmierczak stated that each new network presents “a big dependency and technical cost” that was not initially considered, but this demand has led to the emergence of new “challengers.”
The RedStone co-founder described these new networks as “far more efficient in supporting new ecosystems” and cited networks like Berachain, Unichain (Uniswap’s L2 network), and Ink (Kraken’s L2 network) as examples.
Decentralizing Without Over-Engineering
The decentralization of oracles is still a topic of debate. Some experts, like Hugo Philion, co-founder of Flare Network, advocate for directly embedding oracles on-chain.
Kaźmierczak expressed concerns about this embedding approach, stating that it “stifles innovation at the base layer and locks protocols into specific designs.”
He argued that a better and more efficient path could be achieved by using staking technology to distribute security risks, allowing oracles to remain independent and adaptable to technological changes.
What Will the Future of Oracles Look Like?
Acknowledging that Chainlink remains a powerful force with deep and growing industry roots, Kaźmierczak reiterated that the fast-paced nature of DeFi also provides opportunities for challengers.
“We are not so much obsessed with being first, as we are with delivering value to clients and constantly growing.”
He added that the total value secured (TVS) of the oracle provider has grown “1,250% year-over-year, reaching $6.3 billion.”
In an environment expected with crypto-friendly policies under the incoming Donald Trump administration, RedStone’s co-founder mentioned that he anticipates a “bullish wave” across DeFi platforms.
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