Tezos (XTZ) Launches Delegated, Pre-Funded, Self-Sustaining Harbinger Price Oracles

Tezos has announced Harbinger — it’s very own oracle to deliver signed price feeds based on market data from multiple crypto exchanges to its network.

With Harbinger, Tezos is expecting the algorithmic stablecoins, lending platforms, and insurance products to kick off the new use cases.

Initial versions of the contracts are already deployed on mainnet and CarthageNet.

It’s not surprising that the network is delving deep into oracle as oracle projects have been having a lot of attention and gains in the crypto market. The crazy growth of Chainlink (LINK) is evidence of how much traction the decentralized off-chain data feed providers are getting.

Other popular oracles in the market are Band Protocol (BAND) and Augur (REP).

Take on the DeFi World

Now, Tezos, a liquid-proof of stake crypto network, is ready to make the most of the decentralized finance (DeFi) world through its oracle.

Oracles are critical to the fast-growing DeFi space, which has a total value locked (TVL) surpassing $7 billion, in order to have trusted price feed.

In its official announcement, Tezos announced that in Harbinger, “an account that pays for fees to update the price oracle can be delegated and pre-funded with tez,” much like staking.

This, it says, will enable the development of “self-sustaining” price oracles where the block rewards for participating in PoS consensus offset the fees required to keep the oracle data current.

“Having a reliable feed for on-chain price data is critical for DeFi lending platforms. Harbinger is an important building block for the decentralized finance ecosystem on Tezos,” said Robert Leshner, founder of Compound.

After taking inspiration from MakerDAO in StakerDAO, this latest one is based upon Compound’s Open Price Feed.

Harbinger is a set of tools and reference contracts, allowing anyone to become a ‘poster’ who retrieves prices from ‘signers,’ which are crypto exchanges to deploy a price oracle on the Tezos network, which then publishes cryptographically signed prices.

Moreover, Tezos smart contracts use callbacks to receive data to avoid reentrancy attacks.

In the meantime, the 13th largest crypto by market cap of $2.5 billion, XTZ is falling alongside the broad crypto market, trading at $3.43.

Also Read: Is the DeFi Craze Killing Tezos? XTZ’s Main Selling Point “Staking” Is Losing Appeal

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Author: AnTy

Cardano ‘Laser Focusing’ on Delivering Value, Brand Recognition & Promotion in 2020

  • Cardano is “laser focusing” on areas where it can “really deliver value”
  • Cardano Foundation team and community expanding
  • They have initiated a “major brand reappraisal project” to increase brand recognition & Cardano promotion

2019 marked Cardano’s second anniversary that saw the Cardano Foundation team expanding and its community increasing in size and becoming more geographically and linguistically diverse.

Entering into 2020 which is expected to be another busy one, the Cardano Foundation team will continue its “geographic expansion to strengthen our collective skillset as the Foundation and as a community,” said Hinrich Pfeifer, General Secretary of the Foundation.

As Deloitte’s 2019 Global Blockchain Survey revealed 53% executives believe Blockchain Technology has become a ‘critical priority’ while a whopping 83% sees its compelling use cases. 23% of the responding executives have already initiated a blockchain deployment which points to the fact that Demand for blockchain-enabled solutions is there and will continue to grow.

Cardano just needs to work on areas where it can “really deliver value for a wide range of stakeholders,” said Manmeet Singh, Chairperson of the Cardano Foundation says they have started “laser focusing” on them.

Supporting the revolutionary technology & the entire industry

Nathan Kaiser, Chairperson of the Cardano Foundation also shared that 2019 was about getting the non-profit behind the 12th largest cryptocurrency back on track and focused on the legal affairs, taxes, and partnerships including the one with Konfidio to develop “real-life use cases ranging from supply chain and logistics, IoT to Identity Management.” The Foundation also teamed up with COTInetwork to introduce an adaPay solution.

Cardano community is seeing “incredibly strong growth,” with over a million individuals now part of it.

Cardano Foundation emphasizes that its focus isn’t only on Cardano but to support the entire industry and the revolutionary technology. As such, they are “working with other foundations, policymakers, regulators and key stakeholders in the blockchain ecosystem,” shares Tamara Haasen, Council Member of the Foundation.

The idea is to have the necessary legislative support and increased education, awareness, and collaboration to drive the adoption and meeting the demand of the future.

Towards this, Cardano has initiated a “major brand reappraisal project.” This will further help them increase their brand recognition, increase it engagement and share of voice in the media to promote Cardano.

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Author: AnTy