It’s been about 2 weeks since our last announcement and we are happy to provide some updates.
Over the past three months we’ve been working on two groups of oracles for the Solana blockchain. This time we’ll dive a little deeper into the first group, the general data oracles.
The general-data oracles
To refresh your memory on Solana’s benefits read our “oracles in a minute” article. During Solana Breakpoint conference just a month ago, we’ve demoed general-data oracles in our flight insurance app, with sources mixed from both off-chain and the on-chain world.
- flight status oracles — these provide canceled/delayed status data back to the blockchain contract (as you can see on the graphic above)
- crypto pricing data — what’s the SOL/USD price currently?
- insurance ratios — a multiplier factor used to calculate the premium
We’ve described how to test the app in a previous article here. To be brief: use the phantom wallet, connect it to devnet, get some tokens from the devnet faucet and try it out.
We’ve made some organizational changes and this will be reflected on our website with a more defined structure. Our goal for the immediate future is to bring you a frontend oracle builder tool, launch the staking contract and a little surprise. This tool will cover a specific group of oracles, the pricing oracles. Our aim is to provide the majority of 32,000 markets from different tiered exchanges and deliver the data to a supported blockchain. The website won’t be showing block explorers, and be focused on the presentational aspect — we want to bring more functionality to use in your apps. These things take time and are difficult to synchronize with all the wheels turning at the same speed. Holidays are at different dates and expanding the team with the right members also takes time.
We are providing a sneak peek of the new website for you guys:
And… that’s it. Hope you enjoyed. If you would like to learn more about ORAO, you can check out our (old) website, dig into our whitepaper, or join our Telegram channel to speak directly to members of the team and our community.
Also please check out the newest article The Crypto Pricing Oracles 3.0