Cryptocurrency exchange Binance has launched its own data feed network to back blockchain with off-chain data.
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The new solution called Binance Oracle is expected to help smart contracts process real-world inputs and outputs, the exchange said in a press release shared with iHodl.
Binance says ten projects built on the BNB Chain (formerly Binance Smart Chain) network have already integrated with Binance Oracle. In the future, Binance wants to extend the oracle to other blockchains as well. The oracle reportedly feeds the most recent index price to the on-chain oracle, providing the network with real-world data.
The new solution appears shortly after BNB Chain suffered a hacker attack on the BSC Token Hub bridge, costing the network 100 million in cryptocurrencies. Binance CEO Changpeng Zhao said the attackers had leveraged an exploit that "resulted in extra BNB."
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