KCN ORACLE FOR BLOCKCHAIN

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KCN ORACLE FOR BLOCKCHAIN

Oracle blockchain. What are they for and what is it ?… Oracle is an assistant for smart-contracts. Oracles are essential for the realization of the blockchain-based sharing economy. Oracles, in the blockchain sense of the word, are an important part of the technological stack required for a wide variety of decentralized applications. They are a link between the physical universe and the virtual reality of blockchain platforms and an essential part of the promise of smart-contracts. The important role of oracles for the Blockchain 3.0 revolution has already been recognized by some experts in the space. Companies working on oracles include Augur, ChainLink and Oraclize. The Aeternity team also decided to implement Oracle. The Aeternity have therefore decided to make oracle services part of aeternity’s core blockchain protocol. By doing this are addressing three related concepts — scalability, data format and cost. Aeternity provides a mechanism whereby oracle operators can register with the blockchain to answer queries directed at them. Smart-contracts pay to pose questions to an oracle and the fee compensates the oracle operator for interfacing with the outside world — to bring in data and forward it to the smart-contract – this is stated in the official statement of the aeternity team. More detailed information in the official social networks of the community. See you! The news release partner STEX.com.

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