TFX’s Integration with xOracle: A Game-Changer for Trading Prices
TFX, a trading platform, recently integrated with their own on-demand oracle system — xOracle — to provide TFX’s users with more accurate, transparent and secure price data. The previous system incurred high costs and was lacking real-time updates. To ensure accuracy and efficiency in trading prices, TFX developed xOracle as a reliable and secure oracle system to tackle this pain point.
Behind the scenes, various nodes work together to feed prices onto the xOracle chain every 4 seconds.
timestamp = block.timestamp — (block.timestamp % 4)
Each timestamp is labeled and signed by the nodes, ensuring that each block has a price label. When users make transactions such as opening a position, the relay node requests the price for that specific timestamp, then takes the prices from each node, verifies the signatures, and fulfills the request with the verified price.
With this integration, every transaction will be fulfilled by the xOracle, ensuring a reliable and secure trading experience. Users can easily verify the fulfilled transaction and the price, along with the signature of each transaction through explorer, which adds to the confidence in trading and verifies that the price used in the transaction comes from a trusted source.
This transparency builds trust and increases the credibility of both TFX and xOracle, giving users the confidence to trade safely and fairly on the platform. TFX’s development of xOracle serves as a crucial foundation for future advancements and use cases.
This integration not only addresses the previous issues with the pricefeed system but also represents a significant step forward in the development of blockchain technology. It demonstrates the importance of creating reliable and secure systems to ensure the success of blockchain-based platforms. As blockchain technology continues to evolve, it is important to continue pushing boundaries and developing innovative solutions to address various challenges. TFX’s integration with xOracle serves as a testament to this ongoing effort.
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