Oracle Machine track: Finding the second rise curve

The Oracle Machine, as one of the cornerstones of the blockchain world, primarily demonstrates its core competitiveness in four aspects: the comprehensiveness and credibility of data acquisition, the acquisition of exclusive data and value capture, the security and decentralization of the verification mechanism, and the transmission efficiency and network robustness.

It is expected that by 2030, the overall market size of the Oracle Machine track should be between $13.8 billion and $23.1 billion. Chainlink is the absolute leader in the Oracle Machine track, with rich data sources and extensive project collaborations; Pyth has advantages in transmission speed and the acquisition of financial data; Redstone is currently the only Oracle Machine that has both Push and Pull pricing methods.

In the future, the Oracle Machine will no longer overly rely on providing price feed services for DeFi projects. RWA is expected to become a strong second rise curve for the Oracle Machine track. DePIN, AI, and DeSci businesses have the opportunity to integrate with the data services of the Oracle Machine, becoming new driving forces for the revenue growth of the Oracle Machine, allowing industry growth to shift from 2 to N.

1. The Development History of the Oracle Machine

2014 and earlier: Oracle Machine demand began to emerge.

2015-2016: Ethereum co-founder Vitalik Buterin proposed the concept of Oracle Machine, and Oraclize launched the first decentralized oracle service.

2017-2018: The Chainlink project was established, proposing the concept of a decentralized Oracle Machine network (DON).

2019-2021: The DeFi Summer arrived, the demand for Oracle Machines exploded, and multiple projects such as Band Protocol and Tellor were launched successively.

2022-2023: Oracle Machine services expand to multi-chain and multi-scenario. Chainlink launches cross-chain interoperability protocol (CCIP), Pyth Network mainnet goes live.

2024-2025: Oracle Machine services expand from DeFi to gaming, NFT, insurance, and other fields. DePIN applications begin to have more demand for IoT Oracle Machines. The combination of AI and Oracle Machines explores new scenarios for automated execution of smart contracts.

2. Oracle Machine Track Market Scale

By the end of 2024, the total market value of the Oracle Machine project will be $10.55 billion, accounting for 11.8% of the total DeFi market value. Based on Grand View Research's forecast for the DeFi market, this article proposes two hypothetical scenarios to estimate the market space for Oracle Machine:

• Optimistic scenario: If the Oracle Machine market size maintains 10% of the DeFi market size, it will reach $23.1 billion by 2030.

• Neutral scenario: The size of the Oracle Machine market remains at 6-8% of the DeFi market size, which will amount to 13.8-18.4 billion USD by 2030.

3. Main Projects in the Oracle Machine Track

3.1 Chainlink

Chainlink is the absolute leader in the Oracle Machine space, providing services such as price feeds, automation, verifiable random functions, and cross-chain operations. In 2024, price feed service revenue will account for 95% of project revenue, while other services will account for 5%.

3.1.1 Chainlink price feed service

Chainlink obtains data through data nodes, with multiple independent nodes acquiring data from various high-quality data aggregators, performing local aggregation and cleansing before submitting it on the chain.

3.1.2 Chainlink Automation

Chainlink Keeper is an external account (EOA), which can trigger smart contracts to execute based on predefined conditions under certain economic incentives. The Automation 2.0 launched in 2024 introduces cryptographic consensus, transferring expensive computation verification to off-chain networks.

3.1.3 Chainlink Cross-Chain Protocol

CCIP provides a general infrastructure with computational capabilities for smart contract developers, enabling the transmission of data and smart contract instructions across various blockchain networks.

3.1.4 Chainlink verifiable random function

Chainlink VRF generates one or more random numbers for each request for randomness and attaches a cryptographic proof of the randomness.

3.1.5 Chainlink Enterprise Privacy Data Services

Chainlink provides enterprises with the opportunity to sell data and API services in a blockchain environment, enabling various functions such as on-chain privacy data, off-chain computation of contract logic, and on-chain trading of privacy data.

3.2 Pyth Network

Pyth Network is an Oracle Machine project that is a key focus of support in the Solana ecosystem, with the main feature being a fast price update frequency. It currently supports 65 public chains, but the main price feeding service still occurs on the Solana chain.

3.2.1 Pyth Network price feed service

Pyth has not set a node service provider role for price feeding, with multiple financial institutions acting as primary data suppliers. Pyth provides corresponding SDKs for different types of public chains such as EVM chains, Solana, and Sui.

3.2.2 Pyth Network Random Number Generation Service

Pyth Entropy is a random number generation product launched by Pyth Network, and generating random numbers can be completed in just a few lines of code.

3.2.3 Pyth Network Fast Relay Service

The Fast Relay Service aims to eliminate on-chain MEV by introducing relayers that allow users to bid for priority processing of transactions, with the profits going to the protocol layer rather than the nodes.

3.3 Redstone

Redstone has completed the integration of over 70 public chains, making it the project with the most integrated public chains among Oracle Machine projects. Its products include push models, pull models, and AI Oracle Machines.

3.3.1 Redstone Push Model

The push model consists of two parts: off-chain relayers and on-chain contracts. The relayer is a service that runs in a customizable manner based on environmental variables.

3.3.2 Redstone Pull Model

On-chain smart contracts actively call the Oracle Machine interface when they need data, requesting the latest off-chain data from RedStone.

3.3.3 Redstone AI Oracle Machine Architecture CLARA

CLARA is a blockchain communication layer framework designed to achieve seamless communication between agents, consisting of three key components: market module, CLARA SDK, and framework plugins.

4. RWA Opens the Oracle Machine Track's Second Rise Curve

4.1 RWA pricing service demand rise, Oracle Machine becomes the beneficiary

Consulting firm McKinsey predicts that by 2030, tokenized real-world assets will reach $20 trillion. As of March 2025, the total asset size of RWAs is $247.4 billion, including stablecoins (, leaving nearly 10 times the growth potential. The Oracle Machine, as an important infrastructure for RWAs, can achieve significant revenue increases.

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) 4.2 has provided services for the RWA project Oracle Machine

Multiple mainstream Oracle Machine projects have laid out plans in the RWA field, including Chainlink, Redstone, Pyth Network, Supra, and Chronicle Labs. Overall, there are two development paths: one is to continue the DeFi logic and strengthen the on-chain of off-chain financial assets; the other is to explore more complex off-chain entity data modeling to provide real-time data support for high-threshold asset types.

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) 4.3 Non-financial assets, high-threshold off-chain data modeling

Non-financial assets refer to assets that cannot reflect their prices in real-time and need to use methods such as mathematical modeling to reflect their prices at a certain point in time, such as real estate, charging piles, photovoltaic components, artworks, etc. Oracle Machines need to provide more complex services, including connecting to data sources that can reflect the asset's status and influencing factors, and combining this information with mathematical models to convert it into reliable on-chain prices or risk assessments.

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5. Multi-type Data Specific Oracle Machine, Industry rise Curve from 2 to N

) 5.1 Internet of Things data Oracle Machine, DePIN capacity expansion

The IoT Oracle Machine allows device users to monitor device data in real time. BoAT3 is an Oracle Machine paradigm based on IoT data that can upload the workload completed by off-chain hardware to the chain. Echolink is one of the few Oracle Machines designed for DePIN, having completed connections for approximately 8 million hardware devices.

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) 5.2 Code Oracle Machine, Bittensor is timely

Bittensor is a decentralized machine learning network that connects the demand side of on-chain algorithmic problems with off-chain AI models. In the future, there may be dedicated Oracle Machines to upload off-chain code.