A new Cardano-based project is handling oracles a lot differently than Chainlink By Cointelegraph

A new Cardano-based project is handling oracles a lot differently


A new Cardano-based project is handling oracles a lot differently than Chainlink

(ADA) is getting into data oracles ahead of the Goguen era that will add smart contract functionality, taking a different approach than Chainlink. The first oracles are being built in partnership with EMURGO, one of the companies in the Cardano ecosystem, and Ergo (ERG). The first two oracles are deployed on Ergo and provide price feeds for the two trading pairs: and ERG/USD.

The new model introduces Oracle (NYSE:) Pools, which are capable of incentivizing good and disincentivizing bad behavior. Ergo’s core developer Alexander Chepurnoy told Cointelegraph that the idea involves major players in the DeFi ecosystem donating funds to the oracle pools that they find useful. Then, the data providers get compensated with the funds from the pool.

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