Cardano news continue to have an impact on the cryptocurrency market. This time, Emurgo, one of the companies behind Cardano (ADA) is announcing the release of their smart contracts & off-chain “Oracle Core.” According to a post in Github, the oracle core will be providing a HTTP API interface for reading the protocol state and another one for submitting data points.
Cardano News: Emurgo Launches a New Solution for Developers
This is one of the latest Cardano news. The oracle market continues to attract a large number of individuals and users from all over the world as new solutions are being released. The oracle core will be a new off-chain solution that oracles who are part of an oracle pool will run.
All the data points submitted are going to be generating a transaction and post it for the protocol to run. Oracles will be able to participate in this protocol without the need of having an additional effort from oracle operators.
With this Cardano news, the Oracle Core will provide all the necessary code, tooling and smart contracts for developers that want to run one. These oracles are a certainly important part of the Cardano network that continues to expand with its recent Shelley release. The Oracles are going to be collecting valuable data from outside the blockchain and it will provide clear information to smart contracts.
During the last months, the Decentralized Finance (DeFi) market experienced a large expansion with a large range of projects experiencing massive gains. These DeFi solutions and firms are using oracles on a regular basis in order to provide some of the services they are currently offering. Oracles will definitely play an important role in the future of distributed ledger technology and Cardano wants to be at the forefront of the market.
The GitHub post explains how the current oracle core is built:
“The current oracle core is built to run the protocol specified in the Basic Oracle Pool Spec. Future versions will also support stake slashing and governance, with the specs already available for reading in the specs folder.”
These are the latest Cardano news that will definitely attract the attention of the blockchain market. In the last 24 hours, the ADA virtual currency experienced a price increase of 3.33% as reported by CoinMarketCap. Currently, each ADA coin can be purchased for $0.111923 and it has a market valuation of $2.9 billion.