Benefits of Kylin's Configurable Oracle

Type of Data

The first use of blockchain oracles was for price feeds. As third-generation blockchains emerged, the need for a source of truth other than numerical is manifesting, and consumers would want to subscribe to a variety of feed Types.

Selection of various trusted APIs In the case of a price feed, for example, using a single spot price is highly unreliable because it represents the price at which buyers and sellers are willing to accept on the spot on a certain exchange. The system using this feed will be dysfunctional if the API goes down or is a victim of manipulation. It is discouraged to use this value alone, and a proper selection of several reliable APIs will ensure an accurate and persistent feed. The creators should be able to select from a list of approved APIs, passing down this trust to consumers who can choose to use the data because they know where it came from and how it was aggregated or treated with each SLA they are signing with each feed.

Trusted algorithms Much investigation still needs to be done most efficiently to obtain the most representative value from running queues or static buffers. The ability to choose this will allow users to research and either select the most efficient configuration according to their needs (speed vs. security vs. authenticity) or choose a default setting with conscious knowledge of the advantages or consequences of using that feed.

Private chains If data remains within the enterprise context, the company should be able to create custom feeds containing private datasets, it wants to work with for its consumers or applications.

Push oracles In the case where data needs to be obtained from democratically varied sources, the contribution of any community member wanting to contribute to a feed by pushing data onto the chain for a reward could bring a dimension of variety appealing to the creator of a feed.