Scotty Explains What Oracle Is and What Its Mission Is In Token Teleportation
📝“That should do,” I pronounced a little tentatively and hit the big red button.
“Beam it up! Beam it up! С’mon, man, you can do it,” — I encouraged myself with all my might.
🚀But what happened next wholly justified the result of the work I have been doing for several days so far.
As I recalled in my last entry, I configured the transporter to initiate NFT transportation.
In my vision, the transporter had to act like some kind of a bridge. It should be able to ping Oracle. The Oracle then would scan prices, values, and beam NFT molecules to their final destination.
👾Of course, you already know a bit about Oracle.
However, let me share with you what you don’t know about it. With that being said, the Oracle is undoubtedly the backbone of my transporter.
Let me explain in more detail.
🌌With the help of my Oracle, I can verify the ownership of the token in parent blockchain (currently, Ethereum) before letting you teleport it to BSC. You may say that I shouldn’t verify myself, but I want to be really sure, you know.
🌠Another interesting (and useful) thing about Oracle is that it sends the signal to the far reaches of the universe (though you probably could recognize them as external market feeds). By offering the optimal spread, it allows me to set the price in the BSC realm as close to the “real” market as possible.
Once Oracle tracks what’s going on in both networks, it then transmits all the necessary instructions back to me and notifies me about future steps I should take.
📡Although I’ve already made some tremendous progress in overcoming the Gas crisis in the Ethereum realm, I do still have some stuff to do.
Oh, and don’t miss the next entry.
Till then, you can dock at scottybeam.io at any time.
🖖🏼Scotty over and out.