Measurable Data Token (MDT) announced the launch of a blockchain-based Oracle service, Measurable Finance (MeFi), which aims to connect the traditional financial data markets with the decentralized financial sector (DeFi).

In its main showcase of utility, the project constructed a decentralized application (dApp) accessible on both the Ethereum and Testnet blockchains, allowing DeFi participants to access stock trading data from some of the world’s largest financial marketplaces, including the Nasdaq , New York, access Stock Exchange (NYSE) and Hong Kong Stock Exchange (HKEX).

With the introduction of these services, the decentralized data exchange network Measurable aims to bring the DeFi industry into the mainstream and to unify the gap between the real and the on-chain world.

Oracles are external third-party data sources such as global temperature levels or sports results that exist outside of the blockchain sphere but can be used to review smart contracts. They can be compared to application programming interfaces that enable interoperable communication with two software units.

Projects in the blockchain space that use this technology include Chainlink (LINK) and Band Protocol (BAND).

Related: How Will Blockchain Technology Help Combat Climate Change? Experts answer

Speaking of data as a superpower in capital markets, Co-Founder of Measurable Data Token Heatherm Huang continued:

“If DeFi is to become mainstream, DeFi innovations and Dapps have to be connected to the external context. MeFi serves as ‘Bloomberg on Blockchain’ – its secure connections between blockchain smart contracts and capital markets help developers access reliable external financial data in the chain. “

In addition to this integration, the project has also expressed ambitions to expand the scope of financial data to include derivatives and exchange-traded funds through the introduction of its native MDT token.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here