Stratis InterFlux first to incorporate Oracles feature, used to query ETH gas price in real time

By:
on Aug 6, 2021
  • All trustless conversion requests can apply a dynamic fee through these metrics
  • Stratis was among the pioneers in fully integrating trustless cross-chain support
  • InterFlux builds within the Stratis Blockchain Technologies framework on top of the existing solution

Blockchain platform and development ecosystem Stratis announced that Stratis InterFlux, its interoperability solution, has become the first product to adopt Stratis’ Oracles feature under the Stratis Blockchain Technologies framework. This feature can be used to query the STRAX token’s current value in USD and the Ethereum (ETH/USD) gas price in real time, Cryptoninjas reported.

All trustless conversion requests can apply a dynamic fee through these important metrics, which leads to application of consistent and fair fees based on actual market data.

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Stratis released the following statement:

“While this release predominantly focuses on the release of InterFlux v2, the employment of Stratis’ Oracles excites those within Stratis; as the applicability of additional use-cases through the utilization of Stratis’ Oracles becomes a vivid reality. The ability to query external services such as data points provided by world-renowned data providers like Bloomberg, opens many use-cases. Stratis will, in future, compile and present use-case studies highlighting the benefits of utilizing Stratis Oracles.”

Fully decentralized implementation

The platform’s approach to interoperability is far from new. Stratis was among the pioneers in fully integrating trustless cross-chain support, a process enabled by its Smart Contract Sidechain(s). Unlike other cross-blockchain solutions, which make cross-chain transaction requests based on a centralized service, the Stratis implementation is fully trustless and decentralized. Transactions are carried out in an unbiased, independent way.

Existing solution has transacted more than $10M in past few months

In the past several months, Stratis’ solution has transacted more than $10 million. InterFlux builds within the Stratis Blockchain Technologies framework on top of this well-established feature. Moreover, the platform has launched updated wallet supplements InterFlux v2 with a full production release of the STRAX Wallet, letting users do a wSTRAX conversion quickly and easily. They can also use the InterFlux WebApp to exchange STRAX tokens back to STRAX.  

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