Ethereum-Dollar price oracle that calls upon Binance's public API.
Blockchain oracles are third-party services that provide smart contracts with external information. They serve as bridges between blockchains and the outside world. Blockchains and smart contracts cannot access off-chain data (data that is outside of the network). However, for many contractual agreements, it is vital to have relevant information from the outside world to execute the agreement.
Oracles provide a link between off-chain and on-chain data and are vital within the blockchain ecosystem because they broaden the scope in which smart contracts can operate. Without blockchain oracles, smart contracts would have very limited use as they would only have access to data from within their networks.
🧰 Understand the mechanisms behind an oracle and how to maintain a high level of decentralisation
🤖 Interact with Binance's API
🦸♂️ Improve web3.js knowledge
☑️ Practice advanced JavaScript concepts
Distributed under the MIT License. See LICENSE for more information.
Twitter - @0xTDF
LinkedIn - https://www.linkedin.com/in/RAMWatson/
Project Link: https://github.com/0xBlueshiftLabs/ETHUSD-Price-Oracle
This project was created as part of CryptoZombie's How To Build An Oracle course