Blockchain oracles are actually smart contracts required for real-time data processing in decentralized systems. Namely, oracles can be integrated by decentralized finances protocols (DeFis) for seamless and accurate prices broadcasting.
This fact makes blockchain oracles a backbone element of modern cryptocurrencies ecosystem: for instance, the wrong settings utilized by Chainlink oracles resulted in collapse of some DeFis amidst LUNA and UST drama.
SupraOracles is one of the most technically advanced oracle solutions in the global Web3 segment. Its infrastructure supercharges industry heavyweights in the sphere of blockchain, DLTs, Big Data as well as Big 4 audit firms.
GetBlock entered into a long-term strategic partnership with SupraOracles in Q4, 2021. GetBlock was chosen by SupraOracles as technical partner to run a node and provide backup nodes in SupraOracles’ ecosystem.
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, added that next phases of his team’s collaboration with GetBlock will include joint events and R&D initiatives:
We are selecting GetBlock to run a node due to its team’s reliability and market reputation. Our team is working closely with GetBlock’s team to understand and address the challenges that face node operations. In the future, we may plan for some AMMs and hackathons with their team. We see this as a long-term partnership with opportunities for further collaboration
Reliable decentralized back-end for Web3 era
Blockchain oracles are among the most challenging use-cases for GetBlock’s technical platform: running oracles require very low latency as even minor delay may create dangerous arbitrage opportunities.
GetBlock is ready to address this use-case with its dedicated nodes: our geographically distributed network of servers works across U.S., Europe, and Asia. Dedicated nodes can be rolled-out by request; GetBlock runs nodes on 16-thread CPUs and with 64 GB DDR4 RAM and high-end NVMe SSDs.
Both shared and dedicated nodes achieve 1 GBit/sec speed which is sufficient for running modern dApps of all sorts.
Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.