TL; DR
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The team behind Sui has just joined forces with Stork (the Oracle) to bring builders faster pricing data.
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Oracles store data and help with things like automating your investments based on real-world events (e.g. buying/selling immediately after the BTC ETF announcement).
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Ultimately, you’ll get real-world news and event updates at lightning speed, which you can respond to automatically, first.
Full story
That’s why the team behind Sui has just joined forces with Stork (the Oracle) to bring builders faster pricing data.
What does that all mean? Let’s start here…
Have your parents ever used those vacuum-sealed storage bags for blankets and clothes?
You would fill the bag, suck out all the air and compress it before moving it to a new location (the attic, usually).
This is kind of how an ‘oracle’ works in the crypto world.
An Oracle is like a vacuum-sealed bag, full of compressed real-world data, which can then be accessed via the blockchain.
Okay nice, but how is that valuable?
You know how dads are obsessed with home automation? They will set triggers to turn on the lights at certain times, and automatically turn on the heating if the temperature drops below a certain point…
That’s what oracles are like, but for automating your investments based on real-world events.
Let’s say you wanted to sell a bunch of crypto at the time the Bitcoin ETFs were announced because you were expecting a “buy the rumor, sell the news” event.
you could be refreshing the SEC announcement page all day…
OR – could program an oracle to monitor the news and automatically sell your selected bag of cryptocurrency the moment the ETF was announced.
Ultimately, you’ll get real-world news and event updates at lightning speed, which you can respond to automatically, first.
It’s a great concept!