Blockchain-based application developer, SmartContract.com, announced the launch of Smart Oracles Platform providing an easier and more secure method of communication data between Ethereum and Bitcoin.
A smart contract is a tamper-proof agreement that is stored on a network of computers. Written in code, the agreement can avoid human error and provide a trustless community. To initiate a smart contract, a large amount of data must be transferred within the blockchain which can be costly.
According to the press release, the Smart Contract Platform will simplify the connectivity between Ethereum and Bitcoin, the two networks the platform supports. This will grant the existing infrastructure some freedom from smart contract demands and updates.
CEO at SmartContract.com, Sergey Nazarov stated:
"Easily connecting smart contracts to the data sources, internal services and bank payment methods desired by users is the next step in making them truly useful for real world use cases."
While the development company continues to support smart contract developers, they have also released a series of Free Public Oracles for common data feeds to be accessible from any Ethereum smart contract. These public oracles will shorten the time it takes to develop any smart contracts. More Free Public Oracles are scheduled to be released and will continue to accept public suggestions.
Founded in 2014, the San Francisco-based company has been at the forefront to advance the use and development of smart contracts.