Friends, this is a must-know: the two types of oracles!
Pull-based oracles keep signed price data off-chain. When an app makes a transaction, it submits the price data along with it, and the on-chain contract only uses it after verifying the signature.
With pull-based oracles, data is only put on-chain when needed, so prices can be updated more promptly. But apps need to check for themselves whether the price is too old; otherwise, they may end up using outdated prices.
$PYTH is the token of Pyth, an oracle network that uses a pull-based design. Current price: 0.07836.
Save this for later and take a closer look 👇
#PYTH
Price swings can be significant, so use leverage responsibly.
Pull-based oracles keep signed price data off-chain. When an app makes a transaction, it submits the price data along with it, and the on-chain contract only uses it after verifying the signature.
With pull-based oracles, data is only put on-chain when needed, so prices can be updated more promptly. But apps need to check for themselves whether the price is too old; otherwise, they may end up using outdated prices.
$PYTH is the token of Pyth, an oracle network that uses a pull-based design. Current price: 0.07836.
Save this for later and take a closer look 👇
#PYTH
Price swings can be significant, so use leverage responsibly.