Creating Oracle On Komodo Now Possible! - Komodo (KMD) News. Sunday, September 16
Important Komodo Cryptocurrency News
Creating Oracle On Komodo Now Possible
One of the Komodo’s lead developers has developed a way to create Oracle on the platform. The enables users to turn off-chain data into on-chain through the permission granted by authorized routes. According to a blog post by the team, this does not require a smart contract to accomplish. The procedure is accomplished using publickeys that are acceptable by the platform.
A smart contract is not necessary to execute oracle on the platform unless there is a need for payment, especially for the Oracle providers. The uses are not limited to payments as the codes can be adaptive for censoring and resolution of disputes.
The Oracle process on the Komodo platform initiates through a name description that describes the transaction linking the sender and receiver data. This is used throughout the lifecycle of the transaction.
Komodo has continued to develop blockchains that exhibit features such as chain independence and fungibility. These independently running fungible chains run what the platform calls a CC contract. Another area the Komodo team is working on is cross-chain fungibility.
Komodo Yet to Find Bottom Under the Bear Market
Komodo is trading at $1.05 down by 1.15 percent. The KMD/BTC trading pair is reflective of the southwards direction of the coin market as KMD made a slight loss of 0.32 percent against Bitcoin.
Komodo has a market cap of $115 million and traded a volume $427,000 in the past 24 hours. Looking at the coin’s moving average, it is obvious that under the prevailing market, its ability to find an enduring support is dependent of a reversal of the bearish pressure since the trend-line shows that KMD would barely find reliable support above $0.00134.
The low volume and the high sell pressure means that this may not be a good time to buy until there is a clear support and weakened bear pressure.
KMD/USD Price Chart, Sunday September 16th:
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