Supra's DORA Provides Real-Time Price Data Integration for Hedera
February 29, 2024 - Denver, CO - Supra is delighted to announce the launch of decentralized oracle price feeds via the DORA (Distributed Oracle Agreement) protocol on Hedera, empowering dApps to leverage real-time data that helps users to make informed decisions, enhance application reliability, and expand functionality on the Hedera network.
Supra Optimizes Interoperability Stack
Oracles play a pivotal role in enabling cross-chain interoperability and enhancing the functionality of Web3 applications, as smart contracts lack native support for these functions and share no security assurances with other chains. Supra Oracles step in to validate and transmit data efficiently, extending the capabilities of smart contracts.
Supra's DORA specializes in fetching and verifying real-time price feeds from top-quality sources, with a focus on guarding against Byzantine or collusive behaviors that affect competitors. DORA operates as a distributed, low-latency oracle service, offering both pull and push subscription models tailored to project developers' requirements
Moreover, DORA is seamlessly integrated into Supra's innovative Moonshot consensus mechanism and distributed VRF, providing exceptional performance in terms of latency, network reliability, and fallback mechanisms during highly volatile events. Additionally, Supra is developing an upcoming bridgeless cross-chain consensus mechanism called HyperNova is in development and on the horizon.
DORA Price Feeds on Hedera
Hedera is an open source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hashgraph consensus algorithm. It is governed by a collusion-resistant, decentralized council of leading enterprises, universities, and web3 projects from around the world.
The EVM on Hedera is optimized for speed and scalability, allowing for easy smart contract deployment using familiar Web3 environments, libraries, and tooling. Developers building on Hedera are provided with intuitive APIs, EVM equivalence, and comprehensive tooling, facilitating innovation and development.
Transactions on Hedera are cost-effective and have a fixed price (in $USD), with an average cost of $0.001 and final settlement in 3-5 seconds, eliminating the need for prolonged block confirmations. With native services scaling reliably to over 10,000 transactions per second, Hedera supports powerful Web3 applications and protocols.
Additionally, oracle price feeds are now supported on Hedera for smart contracts, ensuring enhanced security through Supra's DORA. These price feed updates are retrieved on-demand, providing flexibility and cost savings by eliminating unnecessary on-chain interactions. Supra’s Pull model is available on both Hedera Testnet and Mainnet, while the Push model is available on Testnet and will be available on Mainnet at a later date.
Innovate and Build the Future with Supra
Supra specializes in Oracle services, elevating the functionality and security of blockchain applications. Supra’s developer toolkit enhances performance, flexibility, and stability, supported by comprehensive guides and whitepapers for seamless integration
Additionally, Supra is expanding its presence in various blockchain ecosystems, promising exciting developments in its forward-looking journey. Join us on Supra's groundbreaking journey
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