Friday, December 4, 2020
No menu items!
  • News
  • Blockchain
  • Contact Us
More

    Ergo Unveils Oracle Solution for Cardano (ADA) to Enhance Interoperability

    Must Read

    Ripple Is Planning To Massively Expand XRP Remittance Platform in 2021

    According to Ripple’s senior vice president of product management and corporate development, Asheesh Birla, the payment firm is planning...

    David Schwartz Says XRP Community Could Force Ripple To Burn Its Over 50 Billion XRP

    Ripple CTO David Schwartz has recently pointed out that the XRP community could force Ripple to burn the over...

    Get Up To 100 USDT for Trading On Bitget Exchange. Here’s How to Apply

    According to a report, the Singapore-based deviation margin trading exchange, Bitget, is holding a new campaign that comprises Registration...
    Tobi Loba
    Tobi Loba
    Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to fulfill her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.




    Ergo (ERG), the platform that aims to provide an efficient, secure, and easy way to implement financial contracts that will be useful and stand the test of time, has announced the launch of an oracle solution for Cardano (ADA) to enhance interoperability.

    According to the claim of the firm in a blog post published on 9th November 2020, its oracle pools introduce a distinct approach to oracles and allows building new types of decentralized applications (DApps).

    Read Also: Cardano Price: If You Want To Just Focus on Price, Buy Tron (TRX) –Charles Hoskinson Tells User

    Partnership between Emurgo and Cardano Yielding Expected Results

    It can be recalled that Emurgo, the commercial arm of Cardano (ADA), sealed a strategic partnership with Ergo sometimes in June 2020. This collaboration is targeted at developing solutions that are focused on highly functional decentralized finance (DeFi).

    The fact that Ergo, a platform designed by former IOHK developers, has launched an oracle solution for the Cardano blockchain is proof that the partnership is beginning to produce results as expected.

    According to the blog post, the new oracle solution for Cardano (ADA) is powered by the extended UTXO model of Ergo and will post data from its oracle pools to the Cardano distributed ledger through tx metadata. Ergo also asserted that one of Cardano’s stake pool operators is already leveraging its oracles.

    Ergo noted:

    “One of Cardano’s oracles is utilizing data provided by Ergo’s oracle pools. Marek, a Cardano Stake Pool operator, has built a simple solution for Cardano. Information from the Ergo oracle is sent to the Cardano network through tx metadata.”

    Read Also: ADA Looks Ready To Recover Lost Ground as New Addresses Joining Cardano Jumps 202%

    The platform also added that six data streams are currently using its NUTS oracle, making price information available in real-time for ADA/USD, ERG/USD: Coingecko, ADA/EUR, and the price of Tesla (TSLA).

    Conclusively, Ergo pointed out that the new oracle will enhance the interoperability between Cardano and the Ergo blockchain since they now use the same source of data about the same crypto assets.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Ripple Is Planning To Massively Expand XRP Remittance Platform in 2021

    According to Ripple’s senior vice president of product management and corporate development, Asheesh Birla, the payment firm is planning...

    David Schwartz Says XRP Community Could Force Ripple To Burn Its Over 50 Billion XRP

    Ripple CTO David Schwartz has recently pointed out that the XRP community could force Ripple to burn the over 50 billion XRP in its...

    Get Up To 100 USDT for Trading On Bitget Exchange. Here’s How to Apply

    According to a report, the Singapore-based deviation margin trading exchange, Bitget, is holding a new campaign that comprises Registration Gift and First Deposit Bonus...

    Charlie Lee: Litecoin (LTC) Visa Debit Card Is Now Open To All United States Residents

    As a report has it, Litecoin (LTC) Visa debit card can now be obtained by the holders of the digital token LTC that are...

    Brad Garlinghouse Discusses the Impact of XRP Regulatory Uncertainty on Ripple’s Customers

    Ripple CEO, Brad Garlinghouse, appeared on CNN International on 2nd December to discuss various development in the XRP ecosystem, including the impact of XRP...

    More Articles Like This