- Use Cases
March 16th, 2022 - Zug, Switzerland, and New York, New York - Algoracle is pleased to announce a strategic partnership with Amberdata, to bring high-fidelity digital asset data to the Algorand Blockchain.
Algoracle is the first decentralized oracle built on the Algorand blockchain. Algoracle’s goal is to provide oracle solutions that assist dApps on the Algorand blockchain with off-chain data. The data which they provide is secure, accurate, and delivered fast.
“Amberdata’s high fidelity digital asset data through Algoracle provides dynamic information for the functioning of the Glitter Solana to Algorand bridge. As a native Algorand ecosystem oracle protocol, Algoracle is an essential part of the mechanics of the Glitter Bridge. Our technical partnership ensures stability and quality of execution for the end-user. All in all, Glitter Finance is deeply enthusiastic about the technical partnership with Algoracle.” Says Glitter Finance’s CEO, David Debrovitsky.
Algoracle offers off-chain data utilizing its strategic partnerships with institutional-grade data providers such as Amberdata. The CEO of Algoracle, Abdul Osman said this about the companies Algoracle has partnered with, “Price and Blockchain data is an essential tool for Decentralized exchanges and we are proud to have secured a partnership with Amberdata to ensure that the data Algoracle provides to the Algorand ecosystem is secure and diversified.”
Amberdata provides comprehensive data and insights into blockchain networks, crypto markets, and decentralized finance, empowering financial institutions with data for research, trading, risk, analytics, reporting, and compliance. Amberdata serves as a critical piece of infrastructure for financial institutions entering the asset class and participating in digital asset markets.
“It’s clear that data provider transparency is critical to the success of DeFi, so we’re excited to work with Algoracle as a first-party provider through their decentralized oracles for Algorand,” said Shawn Douglass, CEO of Amberdata. “We believe that this strategic partnership will extend our reach to developers and projects on Algorand, ensuring that they have access to the most comprehensive digital asset data to power their applications.”
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