Phoenix Global

Dec 28, 2021

2 min read

Phoenix Oracle (Beta) on BSC

Phoenix Oracle (BETA) — Binance Smart Chain Launch

Dear Phoenix Community,

It’s our pleasure to announce that Phoenix Oracle (Beta) is now operable with Binance Smart Chain. Feel free to check out the new sample data feeds that are integrated with BSC at https://oracle.phoenix.global . As a chain-agnostic oracle platform, Phoenix Oracle will continue strategically integrating with other Layer 1 blockchains as well as upgrading the core technology. Phoenix Oracle will aim to serve as a catalyst to accelerated decentralized AI across various Layer 1 ecosystems.

With this tech update we would like to introduce a new node selection mechanism that we have already implemented called randomized node selection, which increases the level of decentralization, and is differentiated from existing mainstream oracle technologies.

Randomized Node Selection

Instead of preselected, deterministic logic or price-bidding approach for node selection (as with current mainstream oracles), we utilize a random process that optimizes data integrity and decentralization in the oracle node network context. Combined with an off-chain data aggregation mechanism, this serves as an efficient verification system that will be suitable for data-sensitive use cases such as federated learning and MPC (multi-party computation).

Given our recent Beta launch of Phoenix Oracle, and to kick-off the new year, we are putting a call out for any questions you have on our Oracle. Use this Google form to submit your questions to the team!

https://forms.gle/HPGat6AZ7XCvg6G67

Answers will be published by the team in a medium article early January. Questions will be accepted until 5PM UTC Tuesday, Jan 4th, 2022.