Chronicle Protocol – Decentralized and transparent oracle infrastructure | Fundamentals ep.69

In this episode of the Fundamentals podcast, we’re joined by Niklas Kunkel, the Founder of Chronicle – an oracle service born out of MakerDAO’s Oracle Core Unit that will be launching publicly in September 2023.

Listen to the episode

To cover the basics, oracles are decentralized networks that bridge critical information from the real world to the blockchain.

Chronicle currently provides exclusive support to MakerDAO’s total user deposits of $5.2b, meaning that it has captured a 22% market share of the total value secured by oracles, making it the second largest oracle behind Chainlink.

In this episode with Niklas, we discuss what Chronicle is and the story behind it, how it works, and what sets it apart from other oracle solutions on the market. We speak about ensuring hyper-scalability and ensuring the security of the protocol after which we cover Chronicle’s business model, quantify the market opportunity at hand, learn about the team behind the protocol, and hear what Niklas thinks will be the biggest drivers and challenges related to growth.

Finally, we speak about how Chronicle’s relationship with MakerDAO will develop going forward, and what we can expect to see coming out of Chronicle Labs over the next few months.

Check out the Chronicle Dashboard: https://chroniclelabs.org/dashboard

Timestamps:
00:00 Introduction
01:42 Chronicle’s mission
04:10 From MakerDAOs Oracle Core Unit to being the Chronicle Protocol
07:27 Maker-grade quality
08:39 Chronicle’s position within the market & unique selling propositions
14:59 Achieving hyper-scalability with Scribe: a 66% reduction in gas usage
26:09 Chronicle’s approach to building a truly secure protocol
28:26 Chronicle’s business model
31:01 Quantifying market potential
37:56 The team behind Chronicle
40:01 What will Chronicle’s relationship with MakerDAO be like going forward?
42:39 Expected challenges and growth drivers post-launch
45:04 The biggest learnings Niklas has taken away from his time building in crypto
48:24 Upcoming milestones: Scribe, RWAs, and expansion

This episode is sponsored by Chronicle Labs.

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