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.
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.
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)