Cardano Gets Oracle Integrator, But ADA Falls Back

• Liqwid, a leading DeFi project on Cardano, has launched the first Oracle integrator Charli3 for the Cardano network.
• Charli3 provides a decentralized node network with the framework to supply secure, accurate, and safe data to their platforms and users.
• This integration is a major occasion for the Cardano ecosystem as it shows projects are following the push for full decentralization.

Cardano Gets Its First Oracle Integrator

The Cardano network has had its first oracle integrator launch with Charli3 being integrated by Liqwid, a leading DeFi project on Cardano. Charli3 provides a decentralized node network with the framework for projects to supply secure, accurate, and safe data to their platforms and users. This integration is a major occasion for the Cardano ecosystem as it shows projects are following the push for full decentralization.

What Is an Oracle?

An oracle is essentially an intermediary between blockchain-based smart contracts and real world events or applications that can provide them with any external data they require in order to process transactions or other operations. In this case, Liqwid used Charli3’s oracles in order to connect its algorithmic liquidity market protocol built on Cardano with real-world markets such as ADA/USD and SHEN/USD.

Liqwid’s Co-Founder Comment

Dewayne Cameron, Liqwid’s co-founder commented: “Charli3 is Cardano’s first decentralized oracle infrastructure on mainnet working with talented developers that built this protocol and seeing their clear vision for the evolution of Cardano DeFi has been insightful and super motivating!”

Charli3’s Role In The Future

The launch of Charli3 marks an important milestone in the development of infrastructure on the Cardano network which will be essential if it is ever going to be able to compete at scale against Ethereum and other smart contract blockchains like EOSIO in terms of dApps development. By providing reliable sources of external data through reliable nodes operating within its own decentralized node network will give projects more confidence when building dApps on top of it.

ADA Price Impact

Despite this news having little impact on ADA prices so far which remain mired near all time lows around $1 USD per token level since January 2021 but further developments like this could eventually help lift prices back up again in due course when combined with other positive news stories coming out from within the wider ecosystem such as staking rewards improvements etcetera.