2/ Background
When it comes to cross-chain asset management protocols, price feeds by oracles are an unavoidable hurdle. When the blockchain network needs to use external data (external asset prices, weather temperatures, etc.), a third-party oracle is usually required to introduce the data to the chain.
Although oracle price feeds are widely used, this solution is only a stopgap measure due to security issues because oracle services are easily manipulated. In 2021 alone, the value of Defi protocol funds stolen due to oracle manipulation exceeded $100 million.
When it comes to cross-chain asset management protocols, price feeds by oracles are an unavoidable hurdle. When the blockchain network needs to use external data (external asset prices, weather temperatures, etc.), a third-party oracle is usually required to introduce the data to the chain.
Although oracle price feeds are widely used, this solution is only a stopgap measure due to security issues because oracle services are easily manipulated. In 2021 alone, the value of Defi protocol funds stolen due to oracle manipulation exceeded $100 million.
