For blockchains to reach their full potential, they need access to the world’s data. This is why oracles are crucial to make off-chain data available to on-chain smart contracts. Unlike conventional oracles that focus on data from centralized databases (e.g., crypto prices), IoTeX is building the world's first “real world data oracles” to unlock an entirely new data source for the blockchain industry: verifiable real world data from trusted devices. Our unique oracles are the first-of-its-kind and position IoTeX to be the de facto hub for real world data for the entire blockchain universe.
On-chain real world data will empower DeFIoT use cases and pave the way for new on-chain assets backed by real world data on IoTeX. Becoming an official hub for real world data also positions IoTeX to “serve” data to other blockchains like Ethereum and Polkadot in the future. We are kicking off this effort in Q1 2021 with Pebble Tracker and TruStream, and will publicize our innovative oracle design for community review in Q2 2021.