Rhombus has released new products designed to help further connect decentralized, ethereum-based blockchain applications to real-world data, the startup announced this weekend.
Revealed at the ongoing ethereum conference ETHDenver, the blockchain-based “oracle” service will now support currency pairs, asset pricing and blockchain network data. These products can be used for free by developers competing in the annual ETHDenver hackathon.
Co-founder and COO of Rhombus Jeff Rosen explained to CoinDesk: “For smart contracts [on ethereum] to do most of the interesting things we want them to do, they have to have some connection to the real world. Blockchains in and of themselves don’t have that connection. Oracles are a way to securely bring real world data to the blockchain.”
CEO Rhombus Doug von Kohorn said the oracles can convert US dollar exchange rates into British pound, euro and Japanese yen rates. In addition, hourly updated stock prices for major companies such as Amazon and Tesla were also featured, among a host of other new releases.