Oracle
The Ethereum blockchain is a self-contained system with no connection to the outside world. The Morpher Protocol depends on market data for computing Virtual Futures, trading profits, and losses. Morpher hosts a service called ‘Oracle’ connecting its protocol to data from the outside world. The Oracle connects to various API endpoints of third-party data vendors providing real time market data.
To ensure the Oracle always has correct real-time market data, multiple redundant data-feeds are collected, cleaned, and consolidated in real time. If there are deviations between data feeds observing the same underlying, the spread of the market is increased temporarily by the maximum price difference between the feeds until the feeds are back in sync again.
Whenever a user requests a trade, the current price of the market is written to the blockchain by the Oracle.
Learn more about the smart contracts that power Morpher.
To ensure the Oracle always has correct real-time market data, multiple redundant data-feeds are collected, cleaned, and consolidated in real time. If there are deviations between data feeds observing the same underlying, the spread of the market is increased temporarily by the maximum price difference between the feeds until the feeds are back in sync again.
Whenever a user requests a trade, the current price of the market is written to the blockchain by the Oracle.
Learn more about the smart contracts that power Morpher.
Updated on: 09/12/2020
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