Kaiko crypto data platform integrates with Algoracle, Algorand’s first decentralized oracle network »CryptoNinjas

Kaiko crypto data platform integrates with Algoracle, Algorand’s first decentralized oracle network »CryptoNinjas

Kaiko, provider institutional level cryptocurrency market data, today announced a partnership with Algoracle, the first original oracle service on the Algorand blockchain. Kaiko’s cryptocurrency market data will be integrated with Algoracle’s decentralized oracle network, available for use in smart contracts.

Decentralized prophecies play a major role in the DeFi economy, and robust prophecies are key to the growth of blockchains such as Algorand. Oracles enables the use of real-world data in smart blockchain contracts, which is a condition for executing financial processes that rely on external price data.

Although layered smart contracts can be extremely powerful tools, they are still limited to the information found on the blockchain on which they are built. Once Algoracle completes its decentralized oracle infrastructure, Algorand-based applications will be able to subscribe to Kaiko’s rich suite of cryptocurrency data offerings for use in smart contracts.

Kaiko has deep expertise in providing Oracle solutions with cryptocurrency market data and has been a major supplier of the Ethereum network since 2019.

Algoraclea CEO Abdul Osman said: “We believe data providers should be able to offer their services directly to Algorand-based applications, and we are excited to begin testing infrastructure to enable institutional-level providers such as Kaiko to connect to Algorand applications. . ”

Algoracle started out as the winner of Encode’s Algorand hackathon, before receiving the Price Oracle Soup Grant Award from the Algorand Foundation for Building Services.



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