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Price Feeds, Verifiable Data And More Now Available On Tezos With Acurast
Acurast has reimagined the concept of bringing off-chain data and computation on-chain, creating a platform where developers can access real-world data within their applications through a streamlined marketplace with the advantages of trusted execution environments.
By: Lee Evans
18 October 2022
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Acurast, formerly known in the Tezos ecosystem as ubinetic oracles, allows developers on Tezos to integrate price feeds, verifiable randomness, or any other off-chain data or computation activity.
Acurast has reimagined the concept of bringing off-chain data and computation on-chain, creating a platform where developers can access real-world data within their applications through a streamlined marketplace with the advantages of trusted execution environments.
Tezos dApp developers define a Script that is part of an Acurast Job. This Script defines in code e.g., what API is being called for the price of an asset, if certificate pinning is being done, calculations relevant to the use case.
The Acurast Job and its associated Script is being run by Data Transmitter in the Acurast Trusted Execution Environment which yields not only the output of the Script but also makes it verifiable.
This enables developers to create applications on Tezos that were not possible before and opens completely new use cases.
Benefits of Acurast
Trust
The Acurast platform is verifiable and secured through technology and cryptography, supporting the ideology of Web3. We don’t rely on one central party, but one where decentralization is at the core.
Flexibility
Get off-chain data or computation for your use case without centralized approvals and develop without restriction. How and where to get data or calculations is completely up to the developers.
Interoperability
We add value across the Web3 space with an ecosystem where every project has a place. It doesn’t matter where the project lives – on Polkadot, Tezos, NEAR, or other ecosystems, Acurast is the only solution developers need.
Projects built with Acurast
Acurast is already live and used on Tezos, although currently in Phase 0, developers are already able to write scripts and have them executed in the trusted execution environment of Data Transmitters.
Currently, the matching between developers and transmitters is done manually through us.
With the launch of the Acurast Protocol and the Marketplace in Phase 1 later in Q1 2023, the whole platform will be completely self-service.
These projects have already been building with Acurast:
· Objkt.com is the first and biggest NFT marketplace on Tezos that allows auctioning and trading tokens across smart contracts.
· youves is a decentralized, self-governing, and non-custodial platform for creating and managing synthetic assets secured by eligible collateral. The platform and its smart contracts are built on the Tezos blockchain.
· Yupana.finance is an open-source, decentralized, and non-custodial liquidity protocol built to lend and securely borrow digital assets via smart contracts securely. Yupana provides the Tezos community with the benefits of decentralized financial features and tools.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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