KiiChain
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        • GetStandardTemplateExample
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        • GetWithdrawFee
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      • Misc
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On this page
  • What is the Kii Oracle?
  • What kind of information does the Kii Oracle store?
  • What is the Purpose of an Oracle in Kiichain?
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  1. Validate the Network
  2. Getting Started

What is an Oracle?

An oracle is a blockchain component that provides external real-world data and store on the Blockchain

What is the Kii Oracle?

The Kii Oracle is a decentralized price feed system that provides secure and reliable real-world market data (primarily cryptocurrency prices and tokenized assets) to the KiiChain blockchain. Unlike simple data oracles, it implements a robust validator-based consensus mechanism where:

  • Trusted validators independently fetch prices from multiple exchanges

  • Submitted prices are aggregated using a weighted median (where voting power corresponds to a validator's stake)

  • Votes that deviate beyond predefined standard deviation thresholds are automatically rejected, preventing price manipulation

  • The final agreed-upon price is recorded on-chain through on-chain Oracle module

This dual-layer system (off-chain data collection + on-chain consensus) ensures DeFi applications like stablecoins and lending protocols receive tamper-resistant price data while maintaining full decentralization.

What kind of information does the Kii Oracle store?

The Kii Oracle stores and manages:

  • Cryptocurrency price pairs (e.g., BTC/USDT, ETH/USDT) with:

    • Chain-denominated values (e.g., ubtc, uusdt for KiiChain assets).

    • Deviation thresholds to prevent volatile or manipulated data.

    • Provider lists (e.g., Binance, Coinbase) for data aggregation.

  • Validator-submitted prices, aggregated into a consensus value.

The data is stored on-chain in the Oracle module’s state and updated periodically by the price-feeder to ensure accuracy.

What is the Purpose of an Oracle in Kiichain?

An Oracle in Kiichain serves as the essential bridge between blockchain-based financial applications and real-world market data. It provides secure, decentralized, and tamper-proof price feeds that enable smart contracts to interact with external economic information and empowers developers to build financial tools with key requirements such as open, fair, and resilient.

Last updated 1 month ago