📡 Data Sourcing (Off-Chain Price Feeds → On-Chain)
The first step in the QIE Oracle system is data collection from external sources. To ensure accuracy and reliability, QIE Oracle sources price data from trusted and reputable providers, including:
Cryptocurrency exchanges → e.g., Binance, Coinbase, Kraken
Financial market data providers → e.g., XAUt (Tether Gold) and other real-world asset feeds
🔄 Data Flow Overview
The Oracle follows a standardized process to collect, process, and publish asset prices:
Fetch price data A backend service regularly queries external APIs to retrieve the latest price information.
Transform data The raw data is normalized to match the required precision and format used by the blockchain (e.g., converting float values to fixed-point integers).
Submit to Oracle contract The processed data is submitted to QIE Oracle smart contracts via signed transactions, ensuring authenticity and data integrity.
✅ Key Benefits
Structured — Data is consistently formatted for easy consumption by smart contracts
Accurate — Pulled from trusted, high-liquidity sources
Tamper-proof — Signed and verified before being published on-chain
This system ensures that all on-chain price feeds are reliable, secure, and compatible with QIE-based applications.
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