Discover the Berachain Native Oracle, a key component of the Berachain blockchain ecosystem, providing real-time, accurate price data. Learn how this innovative oracle system enhances interoperability and supports decentralized applications with advanced features and reliable price feeds.
What is Berachain?
Berachain is a high-performance, EVM-compatible blockchain that operates on the Proof-of-Liquidity (PoL) consensus mechanism. This innovative consensus model aims to align network incentives, fostering a robust synergy between Berachain validators and the ecosystem’s projects. Berachain’s technology is built on the Polaris blockchain framework and the CometBFT consensus engine, supporting Ethereum’s smart contract tooling while introducing additional functionalities for decentralized applications.
Berachain leverages the Polaris framework and the CometBFT consensus engine to support Ethereum’s smart contract operations, while also offering enhanced features for decentralized applications. Known as an “EVM-equivalent-plus” blockchain, Berachain integrates EVM compatibility with additional features, making it a powerful choice in the blockchain space. Its design, supported by the Cosmos-SDK, allows for modularity and versatility, catering to developers and users who require advanced and efficient blockchain solutions.
Learn more about: What is Berachain?
The Berachain core principles
Defragmenting liquidity
Simple Defi legos (AMM, Perps, Lend) and pools are built into the chain and powered by validators.
Turbocharging Applications
Validators direct network emissions towards decentralized dApps building on Berachain
Highly Accessible
Interoperable and modular VM built at the intersection of EVM and the Cosmos Ecosystem
Berachain Native Oracle
Berachain integrates a comprehensive and versatile price oracle directly within its blockchain. This oracle is equipped with a Cosmos module and precompile, allowing seamless interaction for applications and users. Leveraging Skip’s oracle solution with ABCI++ Vote Extensions from CometBFT’s v0.38 release, Berachain validators can contribute pair prices on every block. Validators have the flexibility to use default providers or their own chosen providers for obtaining price data.
The Berachain native oracle offers a robust solution embedded within the blockchain. It utilizes a Cosmos module and precompile to facilitate user interaction while leveraging Skip’s oracle solution with ABCI++ Vote Extensions, enabling validators to contribute pair prices on each block. This flexibility allows validators to customize their price providers. The oracle relies on trusted price data feeds from providers like Coingecko, Coinbase, and OKX, ensuring accurate token price updates relative to the USD. As the network progresses towards Mainnet, additional providers will be integrated into the Oracle system.
To support the various in-house applications operating within the broader Berachain protocol, the system employs a proprietary native oracle system. This system aggregates and supplies consistent real-time price feed data, specifically for the US dollar. It achieves this through a Cosmos-associated module and precompile structure, enabling seamless interaction between applications and users. The price feeds obtained from the Berachain oracle contribute to the Oracle Precompile Contract, allowing developers to seamlessly integrate the oracle system into their applications and access the most up-to-date real-time price feed data.
The Berachain blockchain oracle is further enhanced by Skip’s oracle framework, which incorporates the latest version of the Application Blockchain Interface (ABCI++) and leverages vote extensions. This integration, made possible by CometBFT’s v0.38 release, empowers validators to actively contribute to the oracle by providing pricing pairs for each block. Validators can choose between default providers or their own selected providers for sourcing pricing data.
As of January 2024, the Berachain oracle supports a wide range of price feeds, including BTC/USDC, ETH/USDC, ATOM/USDT, TIA/USDT, and USDC/USDT, with more being introduced over time. Currently, the Berachain oracle relies on reputable price feed data providers such as Coinbase, Coingecko, and OKX. However, the network plans to integrate additional price feed data providers soon.
The Oracle Module
The Oracle module (Skip’s Slinky) tracks and manages currency pairs and their associated prices. It provides information about the currency pairs, their prices, timestamps, block heights, and the number of decimals for each pair.
The Oracle module offers several functionalities, including adding and removing currency pairs, checking if a currency pair is being tracked, retrieving the price and metadata of a currency pair, and getting the number of decimals for a given currency pair. It also emits events when currency pairs are added or removed, allowing other parts of the system to react to these changes.
This module can be used in a smart contract system that requires access to up-to-date price information for various currency pairs. By integrating this Oracle module, users and dApps on Berachain can obtain accurate and reliable price data.
Conclusion
In conclusion, the Berachain Native Oracle is a vital component of the ecosystem, providing real-time price data directly within the blockchain. Supported by innovative technologies, it ensures accuracy and reliability, empowering developers and users to interact with decentralized applications seamlessly.
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