🧿 | Oracle System

To ensure the accuracy, timeliness, and protection against external tampering of the price information showcased on the EasyX platform, we implement an advanced framework of Pyth Oracles and smart contracts.

The Pyth Oracle System functions by gathering data from two distinct origins:

1. Custom Pricing Oracle: The principal and favored data source consists of an off-chain custom pricing oracle that has been meticulously developed for EasyX's exclusive use. This oracle amalgamates trade pair prices from multiple exchanges to compute an average price.

2. Pyth: The second data source stems from Pyth, a reputable and reliable supplier of oracle data in the ecosystem.

The Pyth Oracle System subsequently contrasts the prices acquired from Pyth with the primary custom data. In instances where the prices diverge beyond an established threshold, the transaction will be reverted. This mechanism guarantees the swift identification and resolution of any inconsistencies or irregularities in data, thereby ensuring the dependability and precision of the price information employed on the platform.

To comprehend the inner workings of the Pyth Oracle System, it's crucial to delve into how Pyth operates. Pyth functions as a real-time data provider, constantly sourcing information directly from high-quality data producers, such as financial institutions and market makers. These data producers provide accurate and dependable data points, encompassing a diverse array of financial instruments and assets.

Pyth employs a groundbreaking mechanism known as the "Pyth Data Oracle," which is responsible for validating, aggregating, and disseminating this real-time data onto the blockchain. Through a meticulously designed process, Pyth ensures the integrity of the data by leveraging cryptographic proofs and consensus mechanisms. This approach not only maintains the accuracy of the information but also shields it from any tampering or manipulation.