In the past, unreliable price feeds have proven problematic in the DeFi ecosystem. Malactors have exploited low quality pricing information, leveraging unreliable data sources for financial gain.
Because of the inherent complexities involved with aggregating thousands of independent price feeds, data providers play an important role in the DeFi ecosystem. Kaiko, a digital asset data provider founded in 2014, and iExec, a DeFi marketplace for cloud resources, have come together to develop a price feed to be leveraged in Ethereum smart contracts.
One of the difficulties in developing a decentralized price feed is the inherent problem of security. When you leave a smart-contract (known to be a ‘secure’ environment) to connect to the traditional Web 2 environment, there are numerous potential security risks.
iExec has developed a solution to mitigate these risks.
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