🎒Background
The build on bitcoin movement and the capabilities of bitcoin native dApps are just getting started. Torram is pioneering the development of core infrastructure and tooling natively on bitcoin.
"When everyone is looking for gold, it's a good time to be in the pick and shovel business" - Mark Twain
Without oracles, bitcoin native dApp development will always be limited.
Despite its pioneering status and widespread adoption, Bitcoin has largely remained a passive player in the rapidly evolving DeFi sector and growth of decentralized applications, primarily due to its inherent technological limitations. This gave rise to Ethereum due to its programmability layer and smart contracts, which eventually opened to door for so many other L1 and L2 blockchains as we see them today.
Despite Bitcoin's prominence as the original cryptocurrency, its potential for supporting complex DeFi applications (and other dApps) has remained largely untapped. This gap is primarily due to its inherent technical limitations, which have hindered the development of sophisticated financial tools that can meet the needs of Dapps on Bitcoin.
Torram is designed to address these challenges by introducing a robust, scalable, and secure platform tailored for the Bitcoin blockchain. Our solution leverages advanced technologies, including AI-enhanced oracles and indexing systems, to facilitate real-time data processing, enhance security, and ensure compliance with regulatory standards.
The purpose of Torram is to bridge the technological gap that currently exists in implementing sophisticated DeFi applications on the Bitcoin blockchain natively without bridges, layers, or other mechanisms that sacrifice security of the L1.
By integrating AI-enhanced oracles and indexing systems, Torram seeks to provide robust, scalable, and efficient solutions tailored for institutional and retail financial activities natively on Bitcoin as close to the L1 security as possible, sacrificing speed, to ensure the safety of assets at scale.
Torram is designed to leverage the security and robustness of Bitcoin to enable advanced financial functionalities directly on its blockchain, with the new wave of innovation making the necessary tools available in 2024.
New innovations like Rune protocol’s Fungible Tokens, Arch Networks native smart contract capabilities, all finally help make it possible to create institutional DeFi infrastructure natively on Bitcoin blockchain. The initiative to create Torram stems from the necessity to bridge institutional financial systems with decentralized finance (DeFi) on the Bitcoin blockchain.
Despite Bitcoin's robust security features and wide adoption, it lacks sophisticated DeFi capabilities tailored to institutional needs.
Existing platforms like Chainlink and The Graph offer partial solutions but face challenges such as centralization, limited on-chain data access, and insufficient query performance for institutional requirements.
We’ve seen the rise of API3, Pyth and others, but still with their flaws, lack AI capabilities, and full Bitcoin blockchain ecosystem support.
Torram aims to address these shortcomings by providing a robust, scalable, and fully decentralized Oracle and indexing layer that caters specifically to the complex, high-security needs of institutional players in the Bitcoin ecosystem
Why now?
With the launch of Ordinals in Jan 2023 and Runes in April 2024 the bitcoin ecosystem is only beginning to grow. The ecosystem is expected to grow exponentially over the next 2-5 years and Torram is at the forefront of this development.
The bitcoin ecosystem is in it's infancy and Torram is building one of the missing core and critical pieces of infrastructure and tooling to enable the next level of robust dApp development.
Last updated
