LONDON, July 6, 2023 /PRNewswire/ — Just a few weeks after adopting Sui as its official blockchain partner, Oracle Red Bull Racing offers a new way for fans to engage with the Team through the use of next-generation blockchain technology. Today, the Team is joining Mysten Labs in announcing the launch of the Oracle Red Bull Racing Validator on Sui. Mysten Labs, the initial contributor to Sui, will manage and operate the validator.
Blockchains are databases, but unlike traditional databases that are controlled by a single authority, the defining feature of public blockchains is that they are decentralized. Instead of a centralized entity controlling the data, blockchains rely on a network of machines to determine what pieces of data will be added, updated or deleted from storage. The machines they depend on for this function are called ‘validators.’ Without these validators, the blockchain would cease to operate. The ORBR Validator will, like other validators on the network, participate in the network’s consensus process to help ensure that only valid data is added to the blockchain, bolstering the Sui protocol.
Oracle Red Bull Racing Team Principal and CEO Christian Horner said: ‘Oracle Red Bull Racing was an early adopter of blockchain technology in Formula 1, recognizing its potential to connect fans all over the world with the Team in a truly unique and forward-thinking way. Partnering with Sui will elevate that experience, making access easier, more secure, and engaging.’
Evan Cheng, Co-Founder and Chief Executive Officer of Mysten Labs, said: “The ultimate potential of blockchain technology lies in its ability to build community and increase connection. We are proud to support Oracle Red Bull Racing as they explore new forms of building connections with fans.”
The launch of the ORBR Validator follows the Team’s selection of Sui as its Official Blockchain Partner in June 2023 under a multi-year partnership with Mysten Labs to build on Sui.
About Sui
Sui is a first-of-its-kind Layer 1 blockchain and smart contract platform designed from the bottom up to make digital asset ownership fast, private, secure, and accessible to everyone. Its object-centric model, based on the Move programming language, enables parallel execution, sub-second finality, and rich on-chain assets. With horizontally scalable processing and storage, Sui supports a wide range of applications with unrivaled speed at low cost. Sui is a step-function advancement in blockchain and a platform on which creators and developers can build amazing, user-friendly experiences. Learn more: https://sui.io
About Mysten Labs
Mysten Labs is a team of leading distributed systems, programming languages, and cryptography experts whose founders were senior executives and lead architects of pioneering blockchain projects. The mission of Mysten Labs is to create foundational infrastructure for web3. Learn more: https://mystenlabs.com
About Oracle Red Bull Racing
Oracle Red Bull Racing has established itself as a prominent force in the FIA Formula One World Championship since its establishment. The team was founded in 2005 with the aim of expanding Red Bull’s presence in F1 and challenging the established norms of the sport. Known for their passion, playfulness, ambition, and remarkable achievements, Oracle Red Bull Racing has emerged as one of the most successful teams in Formula One.
With numerous Constructors’ and Drivers’ world titles, as well as a remarkable record of over 100 race victories, Oracle Red Bull Racing consistently strives for excellence. The team is dedicated to pushing the boundaries of performance, fostering a culture of champions, and embracing innovation at the forefront of technological advancements in the sport.
SOURCE Mysten Labs
