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How does Solana oracle ensure the accuracy of price data for cryptocurrencies?

Chhavi GuptaJun 19, 2020 · 5 years ago1 answers

Can you explain how Solana oracle ensures that the price data for cryptocurrencies is accurate?

Solana
Oracle
Price Data

1 answers

  • swarnadipFeb 01, 2021 · 4 years ago
    As an expert in the field, I can tell you that Solana oracle ensures the accuracy of price data for cryptocurrencies by employing a decentralized network of validators. These validators are responsible for fetching and verifying the price data from multiple sources, including reputable exchanges and data providers. Through a consensus mechanism, the validators reach an agreement on the accurate price data, eliminating any discrepancies or false information. This ensures that the price data used by Solana is reliable and trustworthy, providing users with accurate information for their trading decisions. So, you can confidently rely on Solana oracle for accurate price data.

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