Back to Course

2. Intermediate Course

0% Complete
0/0 Steps
  1. 1. What is Layer 0 in Blockchain technology?
  2. 2. What is layer 1 in Blockchain?
  3. 3. Second layer (layer 2) - what is it? 
  4. 4. Blockchain and its layers - What is layer three in Blockchain (L3)?
  5. 5. Ethereum 2.0 - What is it? 
  6. 6. Ethereum Proof-of-Stake (PoS) - what should you know?
  7. 7. Ethereum London Hard Fork - what is it ? 
  8. 8. What is the Ethereum Name Service (ENS) and how does it work?
  9. 9. Arbitrum: Ethereum scaling solution - everything you need to know
  10. 10. Polygon 2.0 - the value layer for the Internet
  11. 11. Ethereum ERC-4337 - what is it and how does this standard work?
  12. 12. What is an ERC20 token and how is it created?
  13. 13. The ERC-721X VS ERC-721 Standard – Key Differences!
  14. 14. What is cryptocurrency burning?
  15. 15. Examples of the use of WEB3 on the blockchain
  16. 16. What is Web5? 
  17. 17. Blockchain Oracle - what are oracles? 
  18. 18. Polkadot - Decentralized blockchain and DOT cryptocurrency
  19. 19. Polkadot Parachain - Next-generation blockchain
  20. 20. Interoperability in the world of cryptocurrencies and blockchain
  21. 21. What is Blockchain sharding?
  22. 22. Mainnet versus Testnet on the Blockchain. The complete guide!
  23. 23. MINA Protocol: the lightest blockchain in the world!
  24. 24. Sustainable Blockchain - Proof of Useful Work & Flux
  25. 25. Cosmos SDK: Building the Blockchain Ecosystem
  26. 26. What is cross-chain interoperability in Blockchain technology?
  27. 27. Blockchain trilemma - explanation of the problem. What is the impact on cryptocurrency payments?
  28. 28. Non-fungible tokens and NFT exchanges
  29. 29. How to make money with NFT?
  30. 30. What is the NFT licence fee?
  31. 31. NFT Gas Fee - what is it? How can you reduce your gas fee?
  32. 32. The main differences between static NFT and dynamic NFT
  33. 33. What is minting an NFT?
  34. 34. What are NFT Ordinals? A guide to Bitcoin NFT.
  35. 35. What is KnowOrigin NFT, and how does it work?
  36. 36. ERC-6551 - the new NFT standard. What does it bring to the non-exchangeable token sector?
  37. 37. What is NFT Lending all about? An innovative solution in the world of cryptocurrencies!
  38. 38. The Metaverse – a new virtual world
  39. 39. Metaverse – TOP 15 virtual reality projects
  40. 40. Technical analysis – is it worth using?
  41. 41. Trading order types: stop loss, trailing stop loss, LIMIT
  42. 42. Market Cap versus Fully Diluted Market Cap - the most important differences you should know!
  43. 43. Set up of Stop Loss and Take Profit orders
  44. 44. What are DeFi liquidity pools?
  45. 45. Real Yield in DeFi - what is this trend? What does it consist of?
  46. 46. Vampire Attacks in Decentralized Finance (DeFi): Explanation and Examples
  47. 47. What are wrapped tokens 
  48. 48. What are security tokens?
  49. 49. What are Social Tokens? 
  50. 50. Liquidity Provider Tokens (LPs). What are they, and why are they so important?
  51. 51. What is the Lightning Network, and how does it work?
  52. 52. What is Play-to-Earn (P2E) and how does it work?
  53. 53. Cryptocurrency steps - What is move to earn M2E?
  54. 54. Segregated Witness - what is Segwit Bitcoin all about?
  55. 55. What are Decentralized Cryptocurrency DEX Exchanges?
  56. 56. What is Curve Finance?
  57. 57. What is GameFi and how does it work?
  58. 58. What is Proof of Reserves (PoR)? How does it work?
  59. 59. DAO Investment: A revolution in the world of finance and investment
  60. 60. What is MakerDAO and DAI Stablecoin?
  61. 61. What is the SubDAO protocol, and how does it work?
  62. 62. How to Create Your Own Decentralized Autonomous Organization (DAO)?
  63. 63. Atomic Swap: What is an atomic swap, and how does it work with cryptocurrencies?
  64. 64. What Is Cryptocurrency Vesting? What Are Its Advantages?
  65. 65. What Is the Metaplex Candy Machine Protocol? How Does It Work?
  66. 66. What Is the BNB Greenfield Ecosystem?
  67. 67. What Is Slashing in Cryptocurrencies?
  68. 68. Royalties – What Are They? How Does This Type of Licensing Fee Work?
  69. 69. What is TradFi? The importance for cryptocurrencies!
  70. 70. What is the Real World Asset (RWA) trend in cryptocurrencies? Explanation and examples!
  71. 71. Pyth Network: a powerful oracle harnessing the power of Solana!
  72. 72. What are stables in the world of cryptocurrencies?
  73. 73. What Is Binance Oracle?
  74. 74. Shibarium: A new era in the Shiba Inu ecosystem?
  75. 75. What is an ETF? How will an exchange-traded fund on bitcoin work?
  76. 76. Symmetric and asymmetric encryption - key cryptography techniques!
  77. 77. Hedging in cryptocurrencies - great portfolio protection against risk!
  78. 78. How to create your own cryptocurrency? 
  79. 79. What is a Dusting Attack in cryptocurrencies? How to protect against it?
  80. 80. What is a Black Swan?
Lesson 73 of 80
In Progress

73. What Is Binance Oracle?

Blockchain and cryptocurrencies have significantly transformed various sectors of the economy, with intelligent contracts playing a key role in automating and decentralizing many business processes. However, for these contracts to function effectively, they require access to up-to-date market data and information from external sources. 

One solution that bridges the gap between the world of digital assets and real-world data is the Binance Oracle. In today’s lesson, we will delve into this topic, exploring what it is and how Binance Oracles operate.

What is the Binance Oracle?

The Binance Oracle is a service offered by one of the world’s largest cryptocurrency exchanges, Binance. It serves as a blockchain oracle, providing reliable and up-to-date data from external sources to various blockchains. But how does Binance Oracle work, and why is it of paramount importance?

Binance Oracle constitutes an entire network that facilitates intelligent contracts’ access to real-world data. This innovative solution allows existing decentralized applications (dApps) and their partners within the BNB Chain, a part of the Web3 ecosystem, to access advanced computing and data sources.

According to Binance’s data, over ten projects within the BNB Chain have already integrated Binance Oracle. Notably, this solution is expected to expand its support to other blockchains in the near future.

Blockchains are renowned for their closed nature, meaning they cannot access external information. However, various blockchain components, such as smart contracts, blockchain games, and DeFi platforms, require access to external data sources, including cryptocurrency prices, weather data, stock indices, and more.

Binance Oracle acts as a bridge between the blockchain world and external data sources, making this data available in real-time on blockchains by relying on Binance as a trusted data source.

How does Binance Oracle work?

In essence, Binance Oracle operates similarly to familiar blockchain oracles by providing secure and reliable on-chain data to various blockchains. While primarily dedicated to the BNB Chain, it plans to expand its support to other blockchains in the future. This expansion means that all projects built on the BNB Chain can benefit from its services.

The BNB Chain ecosystem experiences significant benefits from Binance Oracle. Having its native Oracle enhances data reliability on the blockchain. This Oracle, in conjunction with trustworthy data, attracts more opportunities for existing projects and attracts new developers to the ecosystem.

Distinctive Features and Applications of Binance Oracle

Binance Oracle finds wide-ranging applications in blockchain ecosystems, including:

1. Decentralized Finance (DeFi): DeFi projects utilize Binance Oracle to monitor token prices, access interest rate information, and other financial data. This facilitates the automation and decentralization of various financial services, such as cryptocurrency loans and exchanges.

2. Blockchain-Based Games: Games operating on blockchains often incorporate data from Binance Oracle to create virtual worlds where crypto asset prices influence gameplay and the in-game economy.

3. Risk Management Systems: Binance Oracle is instrumental in developing risk management systems that automatically respond to changes in digital asset prices and other market data.

4. Tokenization of Traditional Assets: Binance Oracle can assist in the tokenization of traditional assets, such as real estate and commodities, by providing information about the value of these assets on the blockchain.

Now, let’s highlight what sets Binance Oracle apart from other oracles:

5. Reliable Data: Binance Oracle sources data from highly selected data providers, ensuring its accuracy and comprehensiveness. It aggregates price data from both centralized exchanges and decentralized financial applications, providing a weighted average.

6. Secure Data Processing: Binance Oracle safeguards data from tampering through a distributed signing system called the Threshold Signature Scheme. This system ensures the accuracy and authenticity of digital signatures, preventing unauthorized data alterations.

7. Thoughtful and Secure Data Publication: Data obtained from Binance Oracle is published on the blockchain via multiple nodes, and only signed information is made available. This ensures that accurate data is accessible even during periods of high price volatility and changing market conditions.

8. Accurate Data Monitoring: Binance Oracle continuously monitors data and updates it through an independent monitoring service that operates 24/7. The Binance support team intervenes whenever significant deviations are detected.


Binance Oracle is a pivotal component of the cryptocurrency ecosystem, providing access to external data sources on blockchains. This tool enables the development of advanced blockchain applications and smart contracts that are more decentralized and versatile. With Binance Oracles, innovative projects harness the blockchain’s potential in various forms.

Complete today’s lesson!

  1. Blockchain Oracles – What Are Oracles?
  2. Examples of Using Web3 on the Blockchain
  3. What Are Threshold Signatures and How Do They Work?
  4. Top 10 Blockchain Oracles – What Are They? What Sets Them Apart?