Crypto Price Oracles Are About to Become “Unstoppable”

By May 7, 2020Ethereum
Click here to view original web page at cointelegraph.com

A Chainlink (Link) node provider is launching an “unstoppable” domain with oracalized crypto price feeds.

Vulcan Link is placing Chainlink’s crypto price feeds on a ".crypto" domain. The domains are sold by Unstoppable Domains and reside on the Ethereum blockchain which should make them censorship-resistant.

Although Chainlink’s price feeds are decentralized, companies like Vulcan Link have to rely on centralized domain registrars like GoDaddy and centralized hosting services like Google or Amazon Web Services for their own websites. Theoretically, their website could be turned off at any time.

Unlike a ".com" domain, users can purchase a ".crypto" domain outright. As long as the Ethereum blockchain is running the domain should be operational. While ".crypto" domains aren’t yet supported by all the major browsers, Opera Browser announced support at the end of March.

DApps are still vulnerable

In a Cointelegraph interview, Unstoppable Domains co-founder Brad Kam said it was ironic that decentralized apps (DApps) still have a single point of failure:

“And this is basically a problem that DApps have, in general, where the value proposition for them is that they're censorship resistant. But then they have this problem where they have a domain name that can be taken away or a Web site can be taken down. And it's difficult to then have other people build infrastructure on top of them if they have this very simple point of failure that can happen at any time.”

Kam admits, however, that the impending migration to Ethereum 2.0 may present a challenge for DApps.

Recently, Chainlink oracles were natively integrated into the Tezos (XTX) ecosystem, making the local DeFi ecosystem more robust. This is another step in making crypto space self-reliant and invulnerable.

Vulcan Link is placing Chainlink’s crypto price feeds on a ".crypto" domain. The […]

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