The world’s largest crypto exchange Binance is expanding its offerings with the launch of Oracle Network for its BNB chain ecosystem. This new service will source, verify, and feed-off chain data to smart contracts running on the BNB chain.
Oracle aims to offer a more secure, reliable, and accurate data-sourcing solution for smart contracts. This new offering will be available this month. It will enable existing Web3 apps and BNB chain partners to access oracle data sources.
As of now, ten projects are already aligned with the Binance Oracle network, confirmed the company. Moreover, this revolutionary oracle will facilitate the entry of real-world data into the blockchain ranging from pricing information to weather forecasts.
Oracle would be bi-directional, allowing them to send and receive data to the outside world. The company’s BNB chain ecosystem is the first of its blockchain to leverage Binance Oracle to connect smart contracts with off-chain data to retrieve and send information seamlessly.
Oracle is forecast to enable access for 1,400 DApps and Web3 ecosystem partners. With time, it will extend to support more blockchains. Not only is Binance optimizing its services and venturing to play a vital role in Twitter operations. Recently, Binance announced that it would assist Elon Musk in using crypto against Twitter bots.
Also Read: Chainlink: Decentralized Oracle Network for Real-Time Data Feeds
