Cardano (ADA) plans to use its own oracle system, different from ChainLink technology.
There was an oracledeveloped in partnership with EMURGO, a company from the Cardano ecosystem. The first two oracles will be launched on Ergo (ERG). They will provide data on the price of two pairs: ADA / USD and ERG / USD.
Cardano technology leverages oracle pools(Oracle Pools), which are designed to track their performance. The idea is that big players in the DeFi ecosystem will invest in the most useful oracle pools. And data providers will receive rewards from a common pool of funds.
Another feature of the oracle is thatdata providers will initially have to place funds as collateral. In the event that he provides low-quality information, part of his collateral may be "cut".
Chances are Cardano won't rush to launchoracle, because it will not be fully usable until the launch of the Goguen update. However, testing of the technology has already begun within the ecosystem.
Recall that this summer, the Shelley update took place on the Cardano network. One of the main changes to the network was access to ADA staking.
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Based on materialscointelegraph.com
