Background
Last updated
Last updated
The Plume Data Highway is a cornerstone of Plume's expansive vision for RWAs. Unlike traditional RWA projects that focus solely on tokenizing physical assets, Plume's Data Highway facilitates the integration of real-world data, including weather, economic indicators, and social trends, into the onchain ecosystem.
At its core, the Plume Data Highway is a fully integrated system comprising developer toolkits, client libraries, containerized daemons, and smart contracts. This comprehensive infrastructure allows for efficient uploading and consumption of real-time data feeds, making Plume the optimal chain for handling real-world data.
A key property of the Data Highway is its custom transaction type, specifically designed for pure data updates. Plume reserves a percentage of block space for these transactions, ensuring they are prioritized even during high network congestion. This design guarantees timely processing of data updates by the sequencer, regardless of mempool traffic. Conversely, during periods of low data update activity, the sequencer efficiently utilizes the full block space.
A crucial component of Plume's Data Highway is the integration of TLSNotary, a protocol that enables secure and verifiable data export from any website. TLSNotary leverages ZK to allow users to selectively share data with others in a cryptographically verifiable manner, making data truly portable and enhancing its utility within the Plume ecosystem.
The TLSNotary protocol operates in three key steps:
Request: The 'Prover' (data requester) obtains data from a 'Server' over TLS while engaging in secure and privacy-preserving multi-party computation (MPC) with the 'Verifier' (data recipient).
Selective Disclosure: The Prover selectively shares the acquired data with the Verifier, maintaining control over what information is revealed.
Verification: The Verifier authenticates the shared data, ensuring its integrity and origin.
By incorporating TLSNotary, Plume's Data Highway can ensure the authenticity and integrity of real-world data brought onchain. This enables the creation of trusted data feeds and indices based on information from reputable sources, which can then be used in various applications within the Plume network. For instance, economic indicators, market data, or other real-world information can be securely imported and utilized in decentralized finance applications, prediction markets, or other innovative use cases that bridge the gap between offchain data and onchain functionality.
3.3.2 Integrated Smart Contract Deployment Platform
Plume's Data Highway includes an integrated data contract deployment platform for bringing real-world data onchain. This system uses the OracleFactory contract, which allows users to create "data contracts" that serve as bridges between offchain data sources and onchain applications. Users can verify that these contracts correspond to the data uploads of specific data providers using TLSNotary verification as described above.
Data providers construct indexes and upload them to the Plume chain via upload daemons. These daemons are designed to automatically upload both the value of their index and the verified hash from TLSNotary. This dual upload approach aims to ensure both the data's accuracy and its verifiable authenticity.
Once the data is deployed onchain, applications can interact with it by staking with the verified data contracts. This staking mechanism serves as a security measure against potential manipulation. The integrated data contract deployment platform offers several features:
Data Processing: By processing data updates as a native transaction type, the system can handle data updates efficiently
Cost Structure: The system eliminates the need for cross-chain operations or external oracle fees, which may affect costs for both data providers and consumers.
Customizability: The permissionless nature of the OracleFactory allows for integration of various data types and sources
Data Reliability: The staking mechanisms are designed to support the accuracy and timeliness of data
The Plume Data Highway expands the scope of onchain trading beyond traditional assets. While current exchanges primarily focus on cryptocurrencies and assets with globally defined prices (such as equities, commodities, and forex), the Data Highway enables the creation of a novel applications such as perpetual DEXs based on a wide range of real-world data. This includes metrics like crime rates in specific cities, election outcome probabilities, or cultural indices of countries. The system supports both time series and binary data, facilitating the development of diverse applications such as DEXs, prediction markets, and sports betting platforms.
Furthermore, the Plume Data Highway aims to create a more dynamic and responsive ecosystem for RWA management and utilization. By enabling data providers to upload price information for various assets, the system allows for real-time, onchain valuation of RWAs. This capability can be integrated with Plume's staking and lending protocols, potentially allowing these assets to be used as collateral and managed based on their current market value. This integration of real-world asset values with onchain representations.
