In the Autonity system, there’s a special group called oracles made up of validator nodes. These oracles have an important job: they collect and decide on the median (middle) price for different currency pairs on the Autonity network.
Here’s what these oracles do:
- Getting Price Data: Oracles gather raw price information from outside sources for specific currency pairs.
- Deciding on Prices: They use this data to figure out the average price for each currency pair by voting on it in different rounds.
- Keeping Things Updated: Oracles need to update the list of currency pairs they’re dealing with if the Autonity network changes which pairs it’s focusing on.
For someone to be an oracle node operator, they must have certain things:
- Autonity Full Node: They need to run a full node connected to the Autonity network.
- Oracle Server: An Oracle Server, connected to both the full node and external data sources, is crucial for this job.
- External Data Connection: They also need plugins or adaptors to connect to external data providers to fetch the price data for the specific currency pairs.
Basically, oracles help ensure accurate prices for different currencies on the Autonity network by collecting data, deciding on average prices, and keeping everything up-to-date.