Web3 Infrastructure
Pier Two has been building Web3 infrastructure to support oracles, nodes, validators and light clients since 2018.
Pier Two became one of the first Verified Chainlink Oracle Nodes in 2019. Today, Pier Two partners with Chainlink for their Data Feed, Proof of Reserves, Automation and Staking products. Over this time Pier Two has provided data for more than 1,000 unique price feeds across 8 different blockchains and have submitted exceeding 26 million data feed updates. Chainlink provides critical infrastructure to the blockchain ecosystem, and has enabled over $7 Trillion in transaction value, and counting.
Data Feeds
Data feeds represent critical services for the Internet today. The mechanism receives updated data from known and trusted data sources, in a structured, current and up-to-date format, and delivers it to a client either automatically or on demand. However, the existing system has many shortcomings. Chainlink introduces a way to deliver decentralised data, via smart contracts, secured by sybil-resistant node operators in time-tested and security-audited software.
Providing
- Transparency through smart contract immutability;
- High quality, decentralised and reliable data; and
- Blockchain Agnostic.
- Use Cases:
- lending and borrowing;
- options and futures; and
- determinating stablecoin collateralisation.
Automation
Automation in software is designed to reduce human capital, by turning repeatable, routine tasks into automated actions. Leading to consistency and scale. By introducing reliable, high-performance automation for smart contracts, Node operators can optimise costs, save time and resources spent on DevOps, and increase scaling speed.
Providing
- Reliable decentralised automation run by Chainlink Node Operators; and
- Highly efficient infrastructure that enables projects to cut down on resources and costs.
- Use Cases:
- prediction markets;
- yield optimisation;
- blockchain games; and
- asset management.
Proof of Reserves
Proof of reserves demonstrate rigorous standards to keep customer funds safe. Ultimately showing there are sufficient funds, backing all customer deposits. Whether the results come from proof-of-reserves audit results or are a real-time track of reserves, the expectation of a Proof of Reserves will become commonplace across the Web3 ecosystem.
Providing
- Transparent asset audits; and
- Risk reduction through truth-based data.
- Use Cases:
- DeFi users, for transparent risk exposure; and
- dApp developers, auditable risk management and circuit breakers.
