TechFlow reports that the XRP Ledger plans to enable DApps to access external data by introducing an on-chain PriceOracle object. The PriceOracle acts as a bridge between the blockchain network and the outside world, providing off-chain data and information to decentralized applications.
The proposal will introduce a new PriceOracle object and related transactions on XRP Ledger for creating, deleting, and updating PriceOracles. It will also add the get_aggregate_price API, which retrieves aggregated pricing data from the PriceOracle, including average price, trimmed mean, and median values.
Oracle providers can use the PriceOracle to synchronize real-world data—such as market prices, exchange rates, and interest rates—onto the blockchain. Decentralized applications built on the XRP Ledger can then leverage this data to expand their use cases.
This functionality requires the activation of a ledger Amendment. Once implemented, it will further enrich the ecosystem of applications on the XRP Ledger.
