‘Oracles, the Vacuum Seal Bags of the Crypto World’

TL;DR

The crew behind Sui simply joined forces with Stork (the oracle) to supply builders with sooner pricing knowledge.

Oracles retailer knowledge and assist with issues like automating your investments primarily based off actual world occasions (e.g. purchase/promote instantly upon the BTC ETF announcement).

Finally, you’re getting tremendous quick actual world information and occasion updates, you could routinely act upon, earlier than anybody else.

Full Story

So, the crew behind Sui simply joined forces with Stork (the oracle) to supply builders with sooner pricing knowledge.

What the heck does that every one imply? Let’s begin right here…

Did your mother and father ever use these vacuum seal storage baggage, for blankets and garments? 

You’d refill the bag, suck all of the air out and compress it, earlier than transferring it to a brand new spot (the attic, normally). 

That is sort of how an ‘oracle’ works, within the crypto world. 

An Oracle is sort of a vacuum sealed bag, filled with compressed actual world knowledge, that’s then accessible by way of the blockchain.

Okay cool, however how is that useful?

You understand how dads are obsessive about dwelling automation? They’ll arrange triggers to show the lights on at sure occasions, and the warmth to routinely activate if the temperature dips under a sure level…

Oracles are like that, however for automating your investments primarily based off actual world occasions.

Let’s say you wished to promote a bunch of crypto the second the Bitcoin ETFs have been introduced, since you anticipated a ‘purchase the rumor, promote the information’ occasion.

You would sit round refreshing the SEC’s announcement web page all day…

OR – may program an oracle to trace the information, and routinely promote your choose bag of cryptocurrency the second the ETF was introduced.

Finally, you’re getting tremendous quick actual world information and occasion updates, you could routinely act upon, earlier than anybody else.

It’s a helluva idea!