Algoracle's ALGO/USD Price Pair Live for 7 Days
Press Release

Algoracle's ALGO/USD Price Pair Live for 7 Days

Algoracle is excited to announce the ALGO/USD price pair has now been running on testnet for 7 consecutive days without any dropping or loss of data.

Two weeks ago, Algoracle launched on closed-testnet. The Algoracle team worked with a few close feed consuming dApps to test the ALGO/USD price pair. After some initial tweaks, Algoracle launched app-id 53083112 to be the source for the ALGO/USD price pair. In the last 7 days, the Algoracle App, updated the price every 15-20 seconds, which is a total of 27,000+ updates, for a total cost of less than 30 ALGOs ($54.90 USD).  Compared to the gas fees on Ethereum, the same frequency would have cost over $2.7 Million USD.

Currently, there are 5 feed providers and 5 nodes working together to provide the data for the app. The feed providers and nodes are limited, because the Algoracle team is running the software in a real-world simulation to ensure the design can work on diverse systems.

Over the first two weeks of January, the team will be increasing the number of feed providers and node runners to 30 each, and also include the top 50 crypto currencies. This will test how well Algoracle system scales.

By Mid January, Algoracle should be ready to move into incentivized testnet, where we will be reaching out to Feed Providers and node runners to take over the running of the nodes. During this time, the Algoracle network will be tested to see how it functions in this scaled environment.

If you have any questions, feel free to send us a message. We read every message and will get back to you as soon as possible.

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