Binance will launch Binance Oracle later this month, according to an announcement released on their website on Wednesday, October 25th.
With only a week left in the month, Binance did not offer a specific date for the launch.
Binance Oracles uses outside data to improve smart contracts. This will make the data more reliable and secure.
Oracles are bridges of data that link distributed ledgers to the external world. Blockchain oracles allow smart contracts to access data outside of their network. This allows smart contracts to execute using off-chain inputs.
The Binance Oracle will support multiple blockchains within the BNB Smartchain ecosystem.
Early-Bird Program
So far, ten programs have joined the Binance Oracle early bird program. Some of these programs include: Venus, Alpaca, SpaceID, Unilend, Deri, Ankr, Corite, Ultiverse, and Beefy. They are already taking advantage of its high availability. Multiple exchanges are handpicked which ensure the index price’s accuracy.
Binance reviews have praised the exchange for providing the infrastructure for a complete Web3 experience. It is the largest exchange by daily trading volume, and they continue to expand their services, including launching a Crypto Card.