Tag: Binance

Crypto Exchange Binance To Launch New Oracle Service on BNB Chain, Citing Huge Opportunity

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Binance, the world’s largest crypto exchange platform by volume, is launching a new oracle service on its BNB blockchain. In a new company blog post, Binance says that it will be launching oracle services in a push to boost the BNB Chain ecosystem and the broader digital asset space. Oracles provide smart contracts with a channel to receive real-time data such as price updates from external sources so they are able to properly execute their function. “An oracle is a bridge between the blockchain and the real world. These services…

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Binance Oracle network to bridge Web3 and blockchains via smart contracts

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Crypto exchange Binance announced the launch of a new data feed network, Binance Oracle, that allows blockchain smart contracts to connect with real-world data, starting with its in-house blockchain offering, BNB Chain. For starters, Binance Oracle will allow existing decentralized applications (DApps) and Web3 ecosystem partners on BNB Chain to access existing data sources and advanced computations. “Over ten BNB Chain projects have already integrated with the Binance Oracle network,” confirmed Binance. The ability to connect smart contracts with off-chain data will be made available for other blockchains in due…

Binance Launches Native Oracle Network, Starting With BNB Chain

“Using oracles to dramatically increase the smart contract’s knowledge of what’s going on outside of the blockchain, allowing it to respond to external events with specified actions will be crucial,” Gwendolyn Regina, investment director at BNB Chain, said in a prepared statement. “Binance Oracle will emerge as a significant contributor to Web3 by offering a stable, reliable and efficient oracle network with comprehensive accuracy and accessibility features.” Source

Binance USD Supply Increases Amid Heated Stablecoin Wars

The aim behind stablecoins development was to provide stability over the highly volatile nature of crypto assets. This means that stablecoins hedge your funds against the impact of macroeconomic factors like inflation. Currently, stablecoins represent about 15% of the total crypto market cap of over $933 billion. Several prominent firms have created their stablecoins. Usually, the coins are pegged on a ratio of 1:1 to major global fiat currencies like USD, EUR, or GBP. The Binance USD (BUSD) is a notable stablecoin from the leading crypto exchange, Binance. It is…

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Binance One Step Closer to Figuring Out $570M Hacker Identity, Zhao Explains

Binance CEO Changpeng Zhao revealed that the company has most of the compromised funds and is ‘narrowing down’ the identity of the hacker. Crypto exchange Binance is reportedly narrowing down the identity of the hacker behind its $570 million crypto attack. This development comes after the company’s CEO Changpeng Zhao revealed that Binance received a tip from law enforcement. As Zhao put it: “We’re still actually chasing … helping [authorities] to chase the bad players, working with law enforcement around the globe. Working with law enforcement is one of the ways that we can try…