Blockchain Trading Platform Morpher Releases Open Source Data Oracle

Vienna, September 25th, 2024 – Morpher GmbH, a blockchain trading platform for stocks, cryptos, forex, indices and unique markets such as sneakers and watches, has released an open source data oracle to improve access to reliable trading data.

A blockchain oracle is a way of bringing data into a blockchain from external sources, including other blockchains. The oracles currently available suffer from the following problems: they have limited data availability, are not actually real-time, and have to battle licensing problems or usability problems (e.g. pull oracle data is visible before its being used). Oracles represent a single point of failure: if one of the currently available oracles goes down, so do all their feeds. This leaves blockchain applications depending on real-world data at a distinct disadvantage against regular platforms.

To combat these shortcomings, Morpher’s Oracle has been built as an open source protocol, with multiple data sources aggregated. This allows for an increase in speed, accuracy, and reliability of data, which is a necessity for every settlement platform to operate.

The Morpher Oracle comes in two flavors: a pull basedon-chain attestation data-service and a novel intent based oracle for EVM based chains. Both will include Data Feeds for US Equities, Commodities, Forex, and Crypto from the launch. The data is available in real-time, trustable, and able to be licensed to partners/developers.

Morpher’s CEO Martin Froehler stated “Existing oracles could not power a real-time trading platform like Morpher. So we developed our own next generation, multi-sourced oracle which we are now making available to other projects on Radix and EVM chains.”

Thomas Wiesner, Morpher’s CTO shares his vision for the oracle as "Our vision for the Morpher Oracle is to have the dev community continue to grow its robustness, adding more data streams, increasing the number of chains and further expanding the use cases past what we can currently imagine. We want to give a new tool to bring even more trust into blockchain."

“We are super excited to see the release of the Morpher oracle live on Radix and available to use from today onwards - Morpher’s stack has already proven to be incredibly flexible and I look forward to what can be built, using their many data feeds, on Radix in the coming months.”

-Piers Ridyard, CEO of RDX Works

Available to use today for all developers and see how quickly and accurately the Radix coin price is shown in USD.

About Morpher

Morpher, headquartered in Vienna, Austria, has been at the cutting edge of decentralized finance since 2018. The platform empowers users to trade virtual copies of real-world financial markets using its proprietary protocol and MPH token. Supported by prominent investors like Tim Draper, Morpher is dedicated to making global financial markets universally accessible. For more information, visit https://www.morpher.com/new.

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