‘Oracles, the Vacuum Seal Bags of the Crypto World’

TL;DR

• The team behind Sui just joined forces with Stork (the oracle) to provide builders with faster pricing data.

• Oracles store data and help with things like automating your investments based off real world events (e.g. buy/sell immediately upon the BTC ETF announcement).

• Ultimately, you’re getting super fast real world news and event updates, that you can automatically act upon, before anyone else.

Full Story

So, the team behind Sui just joined forces with Stork (the oracle) to provide builders with faster pricing data.

What the heck does that all mean? Let’s start here…

Did your parents ever use those vacuum seal storage bags, for blankets and clothes? 

You’d fill up the bag, suck all the air out and compress it, before moving it to a new spot (the attic, usually). 

This is kind of how an ‘oracle’ works, in the crypto world. 

An Oracle is like a vacuum sealed bag, full of compressed real world data, that is then accessible via the blockchain.

Okay cool, but how is that valuable?

You know how dads are obsessed with home automation? They’ll set up triggers to turn the lights on at certain times, and the heat to automatically turn on if the temperature dips below a certain point…

Oracles are like that, but for automating your investments based off real world events.

Let’s say you wanted to sell a bunch of crypto the moment the Bitcoin ETFs were announced, because you expected a ‘buy the rumor, sell the news’ event.

You could sit around refreshing the SEC’s announcement page all day…

OR - could program an oracle to track the news, and automatically sell your select bag of cryptocurrency the moment the ETF was announced.

Ultimately, you’re getting super fast real world news and event updates, that you can automatically act upon, before anyone else.

It’s a helluva concept!