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You're reading from  Building Full Stack DeFi Applications

Product typeBook
Published inMar 2024
PublisherPackt
ISBN-139781837634118
Edition1st Edition
Concepts
Blockchain
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Author (1)
Samuel Zhou
Samuel Zhou
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Samuel Zhou

Samuel Zhou has over 15 years of software engineering experience in top high tech companies including being a blockchain developer as his hobby since 2018. In 2022, Samuel turned his enthusiasm on blockchain technology into a business by founding TiFi, which is a silicon valley based startup that builds e-Commerce platform on blockchain and brings blockchain to everyday life. Over there he has created TiFi Token that offers token rebates so people can get cash back when spending the token. Also he has built TiFi Bank which is a DeFi application that offers crypto saving, lending, trading, staking and liquidity management features. Samuel holds a Master Degree and a Bachelor Degree in Computer Science.
Read more about Samuel Zhou

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Building an on-chain price oracle with cumulative prices

A price oracle is a technology for providing data for smart contracts to access the prices of various assets. Usually, the smart contracts that access the price oracle can call a function to fetch the prices for specific assets. The assets can be cryptocurrencies, fiat currencies, stocks, or futures. Chainlink (https://chain.link/) is one of the most widely used oracles on the market. Figure 13.1 shows a screenshot of the data feed page (https://data.chain.link/feeds/ethereum/mainnet/eth-usd), which shows the ETH price in US dollars.

Figure 13.1 – The data feed page for showing the ETH price in USD on Chainlink

Figure 13.1 – The data feed page for showing the ETH price in USD on Chainlink

The Chainlink price oracle provides manipulation-resistant and robust pricing data for various assets. The feature of manipulation resistance is implemented by aggregating multiple data sources (AKA oracle responses) of prices of the single asset. Figure 13.2 shows the oracle responses...

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Building Full Stack DeFi Applications
Published in: Mar 2024Publisher: PacktISBN-13: 9781837634118
© 2024 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Samuel Zhou

Samuel Zhou has over 15 years of software engineering experience in top high tech companies including being a blockchain developer as his hobby since 2018. In 2022, Samuel turned his enthusiasm on blockchain technology into a business by founding TiFi, which is a silicon valley based startup that builds e-Commerce platform on blockchain and brings blockchain to everyday life. Over there he has created TiFi Token that offers token rebates so people can get cash back when spending the token. Also he has built TiFi Bank which is a DeFi application that offers crypto saving, lending, trading, staking and liquidity management features. Samuel holds a Master Degree and a Bachelor Degree in Computer Science.
Read more about Samuel Zhou

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