ConsenSys-Supported Rhombus Blockchain Oracle Service Shares Latest Developer Products

The startup Rhombus has launched new products this weekend engineered to improve the decentralized, ethereum blockchain applications to practical data.

The newly revealed products at the ethereum annual hackathon event ETHDenver going on presently, is free for use by developers, this blockchain service “oracle” will provide infrastructure for currency pairs, asset pricing and blockchain supported network data.

New Sides Of The Rhombus

Jeff Rosen, Co-founder of Rhombus gave his comment saying:

“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.”

Rhombus CEO, Doug von Kohorn stated that the its’ new blockchain service can convert the American greenback into other major currencies. Additionally, hourly updated stock prices for Amazon and other top corporations like Tesla were also featured, amidst other new features.

Rosen and von Kohorn are both anticipating that developers at ETHDenver to demand new and uniquely designed oracles during the convention, and would be excited to facilitate these projects.

ORACLES TRIO

Rhombus also released three decentralized blockchain applications that are also based on oracle's tech.

One of these applications allows repeated payments in ethereum to be pegged to the american dollar, the second provides means by which customers can purchase video streaming subscriptions which are billed per minute, and a third application is based on gold market prices to facilitate trade of assets.

“Subscriptions will be killer [decentralized] apps … Why should [people] be waiting for a paycheck every two weeks when they can have their payment dripped every second over two weeks?”

Rosen said.

Consensys which is an ethereum based venture capital studio, is currently backing Rhombus. They are both in collaboration with some other companies, and are major sponsors of this weekend’s hackathon event.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,511FansLike
2,795FollowersFollow
4,274FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Coinbase and Circle Consortium's USDC Stablecoin is Now Integrated on Solana Blockchain

The Center announced today Solana blockchain as an official Chain for its USDC stablecoin. As an expansion of the “fully-reserved and regulated digital dollar stablecoin,”...

Ethereum Classic & IOHK Team Up to Find Solutions to Prevent 51% Attacks On The Blockchain

The Ethereum Classic Cooperative development team partners with Input Output Hong Kong (IOHK) to counter the numerous 51% attacks on the Ethereum Classic...

OKEx Exchange Resumes P2P Fiat Trading for Chinese Yuan, Indian Rupee, & Vietnamese Dong

Cryptocurrency exchange OKEx announced on Wednesday that it is resuming peer-to-peer (P2P) trading for CNY, INR, and VND fiat pairs from today at 12:00...

SEC Proposes $5 Million Settlement in Kik’s $100 Million Initial Coin Offering (ICO) for KIN

Kik Interactive, the embattled Canadian messaging startup, seems to have finally reached a settlement deal with the SEC regarding its illegal ICO back in...

First UK Public Listed Company, Mode Global Holdings, Converts 10% of Cash Reserves into Bitcoin

What started with public listed company MicroStrategy has now become a movement as more and more companies continue to join the ranks. This month, after...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today