Alpha Finance Lab DeFi Lab In order to establish the DeFi product ecosystem, the company announced today that it has launched the “Alpha Oracle Aggregator”, which contains data from the two largest data Oracle providers (Band Protocol and Chainlink) to ensure scalability, flexibility and security.

Previously, decentralized applications (dApps) had to be integrated with multiple data Oracles across multiple blockchains. This is inefficient and requires dApps to build and maintain multiple infrastructures.

In addition, if the oracle being used is temporarily unavailable or manipulated, there will be no backup for a dApp running on a chain using a data oracle. The growth of the encryption space has led to the emergence of many new tokens, making it difficult for a single data oracle to quickly adapt to dApps to support more token requests.

“The speed of development in the DeFi field has affected Alpha Finance’s idea of ??building and expanding our products. Alpha Oracle Aggregator ensures the reliability and security of source data, while increasing the flexibility and scalability of the Alpha ecosystem.”
-Tascha Punyaneramitdee, co-founder of Alpha Finance Lab

The data oracle is a platform that can aggregate and connect real-world data and APIs that support smart contracts.

“The landscape of DeFi is changing rapidly, and the way we aggregate and provide data must be adapted to promote growth and increase the strategic advantage of security for the decentralized projects that use it.”
– Soravis Srinawakoon, CEO and co-founder of Band Protocol

Through Alpha Oracle Aggregator, the Alpha ecosystem can access the verified data of up to three Oracles from a single asset in one location, and can flexibly access data from different Oracles from different assets. Aggregating data from multiple oracles ensures that the output price remains within predetermined thresholds of at least two sources; it ensures that a consistent price is always provided.

Once Alpha Oracle Aggregator is integrated into multiple data Oracles, Alpha Finance can use this tool to deploy on other chains and continue to seamlessly use Band Protocol and Chainlink on the new chain without the need to establish a new infrastructure. Ultimately, because one Oracle provider may not be able to provide price summaries for each asset, Alpha Oracle Aggregator will allow Alpha Finance to access data on all required assets from multiple Oracle providers at the same time.