Some of the biggest teams on the BNB chain are working on projects that have already integrated the Binance Oracle. As reported by DeFi Llama, these include the lending protocol Venus ($770 million TVL), the yield farming platform Alpaca Finance ($510 million TVL), and the liquid staking solution Ankr ($101 million TVL).

Oracles allow smart contracts to use non-blockchain-based data sources. As an example, a protocol might want its smart contract to be activated in response to changes in the value of a certain security, the level of some macroeconomic indicators, or even the weather.

Gwendolyn Regina, BNB Chain’s investment director, said in a statement that using oracles to greatly improve the smart contract’s awareness of what’s going on outside the blockchain, letting it react to external events with prescribed actions, would be vital.

In the announcement, the importance of safety was emphasized. Infrastructure for monitoring data has been set up, and smart algorithms will check that pricing is correct. The network’s recovery time target, or tolerance for the outage, is “near zero,” according to Binance.

Recently, oracles, which are typically vital to the blockchain ecosystem, have become the target of crypto attacks. An attacker used a flaw in the Curve Finance pricing oracle to launch a $220,000 flash loan attack against the DEX QuickSwap. Because of the assault, the Polygon DEX stopped its lending process.

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Coinbase is the second-largest cryptocurrency exchange on CoinMarketCap.com and the largest US-based crypto exchange. The company was supposed to go public via direct listing on the Nasdaq stock exchange this month and received a valuation of about $68 billion last week. However, according to Bloomberg, the listing was moved to April.  

The cryptocurrency exchange also announced yesterday three new listings on Coinbase Pro. It will list Ankr (ANKR), Curve DAO Token (CRV), and Storj (STORJ), which will become available for trading from Thursday, March 25, at 9 a.m. (PT), once liquidity conditions are met.

Bitcoin is the world’s largest cryptocurrency, with a market cap of over $1 trillion. It reached an all-time high of $61,683.86 on March 13, per CoinMarketCap.com data, but lost some of its gains since then. It is trading at around $56,360 at the time of writing.

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