Changpeng Zhao "One or two oracle providers are not enough…Demand surges with expansion of prediction markets and AI"

Minseung Kang

Summary

Changpeng Zhao, Binance co-founder, emphasized the need to diversify oracle sources.
He said there are not enough oracle providers in the current virtual asset industry.
Zhao said that on-chain prediction markets and the increase in AI demand will require more data sources and oracles.

*Photo = Changpeng Zhao(CZ) X screenshot*

Changpeng Zhao(CZ), Binance co-founder, emphasized that oracle (Oracle) sources in the virtual asset (cryptocurrency) ecosystem need to become more diverse.

On the 15th (local time), Zhao said via Binance Square, "Currently there are only one or two oracle providers in the industry, which is not sufficient," adding, "Multiple sources are necessary." An oracle is a technology that brings data existing outside the blockchain into the blockchain.

He cited on-chain prediction markets and increased artificial intelligence (AI) demand as examples, adding, "These areas will require more data sources and oracles."

Minseung Kang

minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.

Changpeng Zhao "One or two oracle providers are not enough…Demand surges with expansion of prediction markets and AI"

PiCK News

"Strategy posts record buying spree even in a bear market"…accumulates 89,618 in Q1 alone

U.S. 'Strikes Iranian Missile Site Near the Strait of Hormuz…Maritime Threat Reduced'

XRP small-balance addresses hit an all-time high at 5.66 million, signaling growing retail inflows

[Analysis] "Bitcoin could fall once more before the next bull run… may drop to as low as $43,000"

[Analysis] "Bitcoin shows signs of recovering sentiment among U.S. investors… but a strong bullish reversal is still not in place"

Trending News