Cardano (ADA) enters Oracle data in the pre-Goguen era adding smart contract functionality with a different approach to Chainlink. The first Oracle is being created in collaboration with EMURGO, a company in the Cardano ecosystem, and Ergo Corporation (ERG). The first two of the mods are posted on Ergo and provide price feeds for the two trading pairs: ADA / USD and ERG / USD.
The new paradigm introduces Oracle complexes that are able to generate good behavior and prevent bad behavior. Alexander Chipornoy, chief developer of Ergo, told Cointelegraph that major players in the DeFi ecosystem are donating money to Oracle pools they find useful. After that, the data providers will be reimbursed for the pooler’s funds.
The model also provides that data providers are raising money safely. If the data provider feeds poor-quality data, it may result in ‘quota reduction’. Unlike Chainlink, which introduced LINK tokens as a gas-like payment mechanism, the new model is unknown in the cryptocurrency.
Rumors spread when Cardano founder Charles Hoskinson tweeted about speaking to Chainalink co-founder Sergey Nazarov. Some expected to announce the merger of Cardano Oracle Chainlink soon. But these rumors have not yet materialized. It is possible that Cardano is not in a hurry, as the oracle is of little use prior to the Jujin era. At the same time, there is ample time to test our internally developed Oracle infrastructure.