Coinbase Launch New Price Oracle.

Coinbase Launch New Price Oracle.

Coinbase’s latest product, the Coinbase Oracle API promises to provide a “signed price feed that anyone can publish on-chain.”

The data will specifically about BTC-USD and ETHUSD markets and will automatically update each minute. The feed will be sourced by Coinbase Pro and although anyone can publish these prices, they will be signed by the platform’s privacy keys and this, therefore, means you don’t have to trust the publisher alone. Via the public key, it will be possible for anyone to verify the data.

Robert Leshner, Compound CEO explained that, “Coinbase Oracle will increase the security and decentralization of Compound’s price feed, which is mission-critical to the protocol and the ecosystem of applications built on top of Compound. We’re not alone — the rest of DeFi will benefit with faster development, consistent data, and shared standards.”

If you want to learn more about the device feature then go to Coinbase now to read the full article that explains its different uses, purposes and functionality.

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