As reported by Foresight News, ALEX, the comprehensive Bitcoin DeFi service platform, has introduced the alpha version of its pioneering Bitcoin oracle. This collaborative effort involved key partners, including Domo, BIS, Hiro, UniSat, Xverse, and Xlink.
In this innovative development, BRC20 transfers and balances are verified through smart contract-based consensus between BIS, Hiro, and UniSat. The Bitcoin oracle network now offers an accessible indexer performance dashboard. Xverse and Xlink play crucial roles as primary development and testing partners in this groundbreaking initiative.
The testing phase for the Bitcoin oracle alpha version is slated for completion by the end of the first quarter of 2024. Following successful testing, the full launch is anticipated, encouraging active participation from community members to operate indexer nodes and verify BRC20 events. This marks a significant stride in advancing decentralized finance services for the Bitcoin ecosystem.