OracleFeedID is a unique identifier assigned to a specific data stream provided by a blockchain oracle, which delivers external, real-world information, such as asset prices or event outcomes, to smart contracts on a blockchain. This ID ensures data integrity and traceability for on-chain logic.
Mechanism
Smart contracts reference the OracleFeedID to request and consume authenticated data from off-chain sources. The oracle system, using this ID, retrieves the corresponding data, cryptographically signs it, and broadcasts it to the blockchain, where the smart contract verifies its authenticity before utilizing it in its execution logic.
Methodology
Strategic reliance on accurate and reliable OracleFeedIDs is fundamental for the functionality and security of decentralized finance protocols and institutional operations. Proper selection and verification of these feeds are essential for ensuring that collateral valuations, liquidation triggers, and derivative settlements are based on trustworthy information, thereby minimizing manipulation risks and maintaining protocol stability.
Custom FIX tags are essential for precise communication of crypto options parameters and granular collateral state, enabling superior institutional control.
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