just to check, are we integrating to any price oracle like chain link in the coming days?
There is definitely a case to use a chainlink smart contract and hook it up to a price oracle on the safex blockchain. It could be among the reliable trusted sources for vendors to get their sfx exchange rate.
I will research more in the up coming weeks and figure out an implementation that works.
I imagine it would take data from the available exchanges, from the order book, and compute the best price. Then contact another API that is hooked up with a Safex Wallet that can then do the update transaction for the
chainlink USD price oracle for example.
We definitely anticipated this in the design.
this would be awesome. the oracle can be used for other devs to get pricefeed as well? so they can build their own payment gateway using sfx?
the way price oracles work on the safex blockchain is that anyone can query the price oracle ID and get it’s current rate. And the rate is updated by the oracle creator sending an
update price oracle transaction with the updated rate.
This all already exists in the safex protocol.
Now we can develop a way to derive the most true price and be sure that it is consistently active and accurate.
Remember there are plenty of different currencies to peg to.