The Russian company Waves Platform introduced the Oracle Data Tool for creating data oracles based on date transactions.

Data oracles allow access to data from various sources outside the blockchain, which are necessary to comply with the conditions of smart contracts and the operation of dApps. These can include currency exchange rates, election and sports scores, weather, and even delays on airplanes and trains.

“To create an oracle, you need to take an external data source and send an initiating date transaction containing information about oracle data. Regardless of whether data is entered automatically or manually, the Oracle Data Protocol will help community members find the oracle in the directory, find out its source and frequency of data updates, ”the developers explain.

In the future, the developer will be able to update the data of the oracle – for example, change its status or add a new field in the description.

“We recommend that developers update the oracle version after any format changes, as well as make a short description of the changes, so that it can be easier for other developers who already use these oracles to work with, ” notes the Waves team.

Developers can use the existing protocol available on GitBook and, if necessary, extend it.

In the future, Waves plans to build an open source protocol database to help developers create standards for data blockchain oracles for various fields. The ultimate goal is to improve the interoperability and compatibility of IT and blockchain systems.

Earlier, BlockchainJournal reported that the Waves Platform, together with the Novosibirsk Institute of Software Systems, will create a roadmap for the introduction of blockchain technology as part of the state program "Digital Economy".

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