- Web3 apps must have a reliable source of blockchain and pricing data.
- Gelato offers off-chain fast calls to save on transaction costs for data calls.
- Gelato Network is now adding multiple tools for Web3 developer teams.
Web3 apps still face the challenge of gaining access to timely on-chain data, oracle events, or price feeds. Having low-cost data access is key for scaling those apps, whether DeFi or Web3 games with tokenization. Gelato Network is another source of Web3 tools with a focus on simplifying the process and further decreasing transaction fees.
The goal of Gelato is to offer tools that retain all reliable Web2 features, and do not create isolated apps which have a smaller potential pool of users. Gelato Network offers Web3 Functions, allowing smart contracts to resemble the work of Web2 apps.
Gelato aims to launch more accurate oracle information without the need to pay fees for each price check. Gelato in general tries to automate and abstract blockchain complexities, allowing teams to focus on the Web2 aspects of their app. Gelato offers tools for fast transaction verification, without interacting directly with blockchains, via the easily available Relay SDK.
Gelato Offers Faster Price Data Fetching
Gelato Network will run API to integrate price oracles into Web3 apps. This means timely and accurate price broadcasting, just as changes happen on the blockchain. Gelato’s API checks for price differences between Coingecko data and ChainLink price oracles.
Gelato then broadcasts the price entirely off the blockchain, with no need to pay gas fees to connect directly to ChainLink. This data source is much cheaper for small-scale apps, where the costs of blockchain calls can eat into the revenues.
At the current usage rate, Gelato Network brings in a few hundred daily users, not counting the off-chain calls. Besides data calls, Gelato Network aims to automate as many Web3 processes as possible. With the Gelato building tools, Web3 developers can create enhanced smart contracts, receiving off-chain reliable data.
The Web3 smart contract augmentation and automation has multiple use cases, including gaming, decentralized trading, DeFi, prediction markets and gassless off-chain asset bridging. Projects that use Gelato tools include Maker and PancakeSwap, one of the top decentralized markets with early Web3 features.
Gelato Network also supports a community of developers, with more than 13K Discord members.
