How to build a Decentralized Oracle (Step-by-Step)

without having to write a single line of code! Try it:

iExec Launches The iExec Oracle Factory: Create Your Own Custom Oracle in Minutes!

Whether you are a developer, tech enthusiast or enterprise, iExec offers one of the most complete and simple-to-use decentralized oracle solutions. This guide will show you how to start feeding Web 2.0 API data into your Ethereum smart contract in no time. For a general overview of what a decentralized oracle is and why it is needed, have a look at our previous article:

Why your Decentralized Application Needs a Decentralized Oracle

If earning some RLC while learning about decentralized oracles is something that interests you, check out our developer training reward program!

In the following guide, we are going to see how to fetch the price of any crypto pair (ex: ETH/USD) from an API on the internet and put it back into a smart contract on the Ethereum Blockchain. Such a mechanism is called a price feed oracle and is one of the many use cases enabled by iExec’s decentralized cloud.

All the terminal commands part of this tutorial were run on a macOS machine. If using Linux, you can use almost all the same commands. However, Windows users may need to adapt OS-specific commands and install apps such as Git Bash — but we can not provide full tech support. If you encounter any issues while following the tutorial, our developers we’ll be happy to help or receive feedback on Slack, Gitter, or Telegram.