Chainlink dominance challenged by Pyths 46x growth in 2024

While Chainlink retains a strong lead, Pyths rapid rise in total value secured hints at shifting dynamics in the oracle market.

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RedStone Oracles raises $15M led by Arrington Capital

The oracle solution said it amassed $4 billion in total value secured across 100 individual clients.

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Supra Oracles Integrates with IOTA EVM to Enhance Data Accuracy

Supra Oracles has launched on IOTA EVM, enhancing data accuracy and timeliness across various DLT networks, according to IOTA Foundation Blog. (Read More)

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Revolutionizing the $50 Billion Finance Data Industry with High-Speed Oracles: Insights from Web3 Exec

The finance data industry is undergoing a major transformation as high-speed oracles disrupt the traditional ways of obtaining financial information. With a market worth of $50 billion, the industry is ripe for innovation and efficiency improvements. Oracles, which serve as bridges between the real world and blockchain networks, are now offering faster, more reliable data [...]

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$10,000 XRP Theory: Factors Analyst Shares Scenarios That Could Drive Growth

XRP’s current price has been highlighted by a range of around $2.5 in the past three days. However, this low price hasn’t stopped the idea of an extravagant XRP price from being in the hearts of XRP bull traders and enthusiasts. Against this backdrop of growing confidence, a bold theory suggesting that XRP could surge to $10,000 has come up from a crypto analyst. This extravagant price point is much higher than most predictions based on technical analysis. Notably, this analyst leaned on XRP fundamentals with XRP to show a scenario where its price reaches this point. Analyst Predicts XRP Could Hit $10,000 Between 2027 And 2030 The theory, introduced by a crypto analyst named Remi Relief on the social media platform X, centers on a long-term vision of XRP reaching $10,000 due to widespread adoption in financial institutions and complete activation of its utility features. Related Reading: Analyst Says These Factors Will Drive XRP Price To $1,000, But What Does Market Cap Say? In a post dated May 12, the analyst predicted that this massive XRP price point of $10,000 could materialize between 2027 and 2030. He clarified that the prediction wasnt dependent on sudden events or institutional price setting but on the natural outcome of XRP functioning at its full potential in global financial systems. However, he also stated that such a price point could manifest as early as 2026. Building on the original post, the analyst has recently expanded on a more detailed vision of a $10,000 XRP. He claimed the existence of two separate XRP ledgers: one for the retail market and another accessible only to around 1,700 institutions and private entities operating under NDAs. According to him, these private participants could already be running tests with drastically different price levels, possibly including the $10,000 mark. He linked this development to recent progress in CBDC trials, especially in France. The analyst also referred to a report discussing the efficiency and performance of various digital currency and payment platforms in terms of Transactions Per Second (TPS) back in 2022. The report focused on CBDC (Central Bank Digital Currency) test networks. According to the report, the Ripple Private Ledger had a TPS of 1,500 in 2022 during tests for the digital Euro. Although Ripple is not yet at the operational scale of AliPay or the Hamilton Project, future projections of the blockchains TPS are still unknown. The Possibility Of A $10,000 Basement Price For The Altcoin The crypto analyst’s theory is based on a future where XRP underpins major financial operations at fixed high values across private networks. The most provocative element of the theory involves Ripple potentially setting a basement price for XRP at $10,000, which would never be breached. Related Reading: XRP Price At $10-$20 Only The Beginning, Its Headed For $1,000 Analyst Reveals In this scenario, if the price ever threatened to fall below that mark, decentralized technologies like Chainlink oracles and IOTA-based AI mechanisms would intervene to stabilize it through automatic trading.  At the time of writing, XRP is trading at $2.40, down by 2.2% in the past 24 hours. Featured image from Getty Images, chart from Tradingview.com

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Pyth Network boosts Morph DeFi ecosystem with real-time price feeds

The partnership brings over 500 real-time price feeds to Morph's testnet, empowering DeFi developers with reliable data.

The post Pyth Network boosts Morph DeFi ecosystem with real-time price feeds appeared first on Crypto Briefing.

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EigenLayer restaker ether.fi closes $500M deal with RedStone Oracles

The deal will see ether.fi allocating $500 million to secure RedStone's data oracles, helping facilitate data between blockchains.

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Whats at the Intersection of Crypto and AI? Perhaps Murder

Source: CoinDesk

The post What’s at the Intersection of Crypto and AI? Perhaps Murder appeared first on Crypto Breaking News.

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BAND Protocol Prices Stabilize After 40% Plunge: Will These Key Developments Help?

BAND prices remain stable at the time of writing. However, considering recent development within the Band Protocol ecosystem, there could be more upsides as the project unveils new features and strikes strategic partnerships. Horizen Partnership Recently, Band Protocol, a platform focusing on cross-chain data oracles, partnered with Horizen, a public blockchain offering a scalable ecosystem for decentralized applications (dapps).  The goal is to provide EON, Horizen’s recently launched EVM-compatible intelligent contracting platform, with access to decentralized oracle services. In this way, decentralized finance (DeFi), gaming, and non-fungible tokens (NFTs) within the EON ecosystem will have real-time pricing information and reliable data via Band Protocol’s middleware solutions. Related Reading: Monaco, NFTs, And Formula 1: Reasons Polygon Is Bullish EON uses Band Protocol’s primary Oracle solution to provide real-time token price feeds across several blockchain networks. Integrating these two platforms ensures the integrity of EON’s data, which will be essential in developing the company’s DeFi, gaming, and NFT ecosystem. Band Protocol’s ability to gather and integrate real-world data and APIs to intelligent contracts may help EON become less reliant on centralized oracles, which introduce points of failure. This new link allows programmers to enhance and expand the functionality of EON intelligent contracts. According to Rob Viglione, co-founder, and CEO of Horizon Labs, the relationship with Band Protocol is a broad step forward in the company’s efforts to provide a safe and scalable environment for DApps.  The reliable oracle services provided by Band Protocol allow programmers to design innovative software for DeFi, gaming, and NFTs. Integrating Band Protocol’s oracle solution, Horizen EON can now provide their intelligent contracts with accurate, real-time price data. Due to this collaboration, new possibilities in DeFi, gaming, and NFT applications will emerge, and the whole blockchain ecosystem will become more robust and decentralized. Band Protocol Planning For SubDAOs Moreover, Band Protocol has proposed the implementation of SubDAOs.  According to Shine Sutheeravet, head of operations at Band Protocol, the goal is to address challenges in decentralized autonomous organizations (DAOs).  SubDAOs offer solutions for complexity management, efficient resource allocation, specialized expertise, flexibility, inclusivity, and scalability.  The proposal suggests transforming the Cosmos Group module into councils to establish clear governance structures.  Related Reading: European Commission To Present Regulatory Framework For Digital Euro In June At the moment, Band Protocol is seeking community feedback to refine and optimize this governance framework and drive the growth of the SubDAO ecosystem. Amid this development, BAND prices are stable at around $1.39, and likely to recover after dropping 40% from February 2023 highs. -Featured Image From Canva, Chart From TradingView

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Chainlink Oracles Integrate with GMX DEX

Chainlink’s low-latency oracles will integrate with the GMX decentralized exchange following a successful governance proposal, providing real-time market data to GMX v2. (Read More)

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Decentralized exchange GMX votes to use Chainlink low-latency oracles

A Chainlink exec said the oracles will improve GMX’s security by providing a more “strong degree of tamper-resistance when settling user trades.”

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What Are Crypto Oracles and Why Does the Blockchain Need Them So Much?

<p class="MsoNormal">Oracles are an absolute necessity for the development of better and more useful blockchains, and understanding their roles in the crypto universe and in the stock market can lead to a better understanding of where tech and finance are going in the future.</p><p class="MsoNormal">As advanced blockchains use smart contracts (agreements on the blockchain which only execute if certain conditions are met), the role of oracles is quickly becoming more and more important, but can they take the stock market to a completely new level?</p><p class="MsoNormal">Understanding How Smart Contracts Work</p><p class="MsoNormal">Smart contracts have gone from simple lines of code which stated: “if User 1 gives User 2 10 X tokens, then User 2 will in turn give User 1 5 Y tokens,” to now requiring real-world, real-life conditions and events to be verified and reported, meaning that they have finally 'breached' into the real world. </p><p class="MsoNormal">As an example of this, theoretically, you can now write insurance contracts where a user commits to paying a monthly premium and, in the event of a flood, house fire, and so forth, the smart contract will pay him or her a specified amount, or a farmer can do the same as means to protect his or her crops. </p><p class="MsoNormal">The question you are probably asking is obvious: how would a blockchain know if a house burned to the ground or a farmer lost his or her crops?</p><p class="MsoNormal">Enter the Oracles: What Is an Oracle and What Do Oracles Do in Crypto?</p><p class="MsoNormal">An oracle is a trusted third party that feeds the blockchain or smart contracts with reliable data outside the information it could have access to.</p><p class="MsoNormal">As a blockchain is only programmed to store data and transactions, it is not able to 'see' outside of its own code, as such, it is simply not possible for it to query an online search engine, ask for more information, and verify the authenticity and veracity of its results. </p><p class="MsoNormal">As such, smart contracts can be written in a way that they rely on trustworthy third parties with said processes (Oracles).</p><p class="MsoNormal">An important clarification must be made here: oracles are usually coded, which users trust and not a real physical oracle. </p><p class="MsoNormal">What Do Oracles Mean for the Stock Market?</p><p class="MsoNormal">An oracle can be programmed to return innumerous information, including stock prices. </p><p class="MsoNormal">As such it is not a very big step from here to create a price oracle, meaning a synthetic token which follows the price of a stock.</p><p class="MsoNormal">Thus, price data can easily be streamed onto the blockchain and by doing so, investors from all over the world could invest in stocks without ever having to present their social security numbers, report their taxes, and so forth.</p><p class="MsoNormal">It would basically operate as a mirror protocol such as the M-GOOG token, which was developed to exactly mirror the price of the real Google stock.</p><p class="MsoNormal">Wrapping Up</p><p class="MsoNormal">It might not be too long before we finally see a fully decentralized stock exchange on a blockchain.</p><p class="MsoNormal">Many projects out there are claiming that they are the ones which will become the future of finance, but the question which matters the most still stands: which one will finally do it?</p> This article was written by Pedro Ferreira at www.financemagnates.com.

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Top Oracle Projects In Crypto To Invest In For 2022

This article is all about the top oracle projects to invest in for 2022. Let's take a look at it. Oracles are centralized or decentralized blockchain.

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Using Bitcoin And Discreet Log Contracts To Facilitate Sports Betting

Discreet log contracts even the odds for peer-to-peer sports betting on Bitcoin. Bettors have a fairer chance when sportsbooks lose their advantage.

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Top 5 Decentralized Oracle Projects In Crypto

Decentralized oracles are still highly talked about in the crypto sphere. Let's take a look at the top 5 oracle crypto projects.

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‘Algoracle’ Fills Much Needed Gap in Algorand DeFi

Algoracle will be the first oracle to ship on Algorand. Covered: The Importance of Oracles Algorand’s Custom, Native Solution Partnerships with Prismatic, Glitter Finance The Importance of Oracles Oracles are a vital element of DeFi. The most popular oracle is Chainlink, which has the meme-reputation of partnering with absolutely every project. This is because oracles […]

The post ‘Algoracle’ Fills Much Needed Gap in Algorand DeFi appeared first on CryptosRus.

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The Pros, Cons And Possibilities For Bitcoin's Discreet Log Contracts

Discussing Discreet Log Contracts, a type of smart contract that can be leveraged for many financial instruments on Bitcoin.

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SupraOracles – The Leading Cross-Chain Oracle in DeFi

DeFi’s emergence highlighted the true capabilities of blockchain technology and showcased its utility in finance. With DeFi seeing a surge in growth, as more and more organizations and projects leverage its capabilities, there was also a massive increase in highly secure and decentralized information feeds. This is where oracles come into the picture – and […]

The post SupraOracles – The Leading Cross-Chain Oracle in DeFi appeared first on NullTX.

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Can’t Live Without Oracles

Over 90% of smart contracts require external data sources to become usable in real-world environments.

Continue reading Can’t Live Without Oracles at DailyCoin.com.

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Worlds Merging: Associated Press Becomes A Data Provider For Chainlink Oracles

The post Worlds Merging: Associated Press Becomes A Data Provider For Chainlink Oracles appeared first on CryptoTicker.

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