Binance Smart Chain-based oracle powers smart contracts

An oracle system has been implemented that allows Binance Smart Chain developers to create DApp and decentralized autonomous organizations that are fed with real-world data.

Bridge Oracle, which was first launched on Tron, says it has crossed an important milestone by expanding its easy-to-use infrastructure. A wide variety of data sources can now be integrated into smart contracts, greatly increasing the benefits of the application.

Data; It can be retrieved using HTTP and HTTPS requests or through WolframAlpha’s computational knowledge. In addition, oracles can be used to generate random numbers, and this infrastructure also paves the way for businesses to integrate blockchain technology into their companies’ operations.

A big problem is solved

Smart contracts are known as an effective way to transform the way businesses work around the world. DAOs were launched to automate a number of processes that allow companies to operate truly decentralized. The biggest obstacle here lies in the inability of smart contracts to access external data without using oracle.

After the Bridge is launched, it will run as the “first specially developed open oracle system” on the Tron network. With its launch on Binance Smart Chain, this infrastructure will be opened to many new developers. BSC has become a popular blockchain thanks to its much lower transaction fees than Ethereum.

Developers using the Bridge Oracle infrastructure on BSC will be able to make payments using BNB tokens. The fun animation video about this process and shared on Twitter achieved high views and caught 1,800 retweets and 9,700 likes.

LEARN MORE ABOUT BRIDGE ORACLE HERE

New benefits are developed

Bridge Oracle CEO Sina Estavi announced at a recent AMA on Telegram that his team plans to move over Tron due to the high Gas fees seen in Ethereum. He said that after developing a DApp on this blockchain, they felt the lack of an open oracle system that could feed data from external sources.

He went on to give a strong example of how useful smart contracts can be in everyday life. If any business wants to promote the video it has prepared, it can make an agreement with a famous face through a smart contract and pay according to the number of views the video gets. The amount can be physically linked to the contract, and Bridge’s oracle system can be used to verify whether the terms of the contract are met.

Estavi highlighted that Bridge Oracle is working to check the authenticity of each piece of data integrated into smart contracts and whether it has been changed. Experienced developers are currently working on potential solutions.

Looking ahead, it was announced that its platform will act as a bridge enabling Tron network tokens to be transferred to Binance Smart Chain. There are a number of new features currently planned.

“Bridge Oracle aims to link real-world data to the blockchain network and from one chain to another. Link is the best word to describe this project,” he added.

Learn more about Bridge Oracle

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