One of the first-ever implementations of a secure oracle that operates by receiving information through a decentralized interoperability protocol is soon going live on Sentinel's blockchain, powered by the most advanced dex and interoperability protocol. Sentinel's custom oracle module will be available for testing on the upcoming v12 testnet.

https://t.co/dWxHj6icHO

Sentinel will be using the Cosmos IBC protocol to query $DVPN/USD pricing from @osmosiszone so #dVPN nodes can set their pricing for bandwidth usage in terms of USD.

Dedicated blog post coming soon.

Introduction of the Oracle Module
Oracle Module: Introduced a new module to manage asset price information, enabling seamless integration with other modules. Key features include:

Asset Management: Each asset is defined by parameters such as: Base Denomination, Quote Denomination, and Pool ID: These fields are used for acquiring the spot price information from the Osmosis blockchain. The Pool ID information is also updated using the AsyncICQ module.

Governance Control: Both asset information and the frequency of query requests can be updated through governance proposals by the community.

IBC-Based Price Queries: The Sentinel blockchain uses Inter-Blockchain Communication (IBC) with the AsyncICQ module to query price information from the Osmosis blockchain:

-Sentinel sends query requests for asset prices to the Osmosis blockchain every N blocks.
-Relayers deliver query packets to Osmosis, which processes the request and sends a response as an acknowledgment.
-Sentinel processes the responses and updates the price information for specific assets in its state.

Real-Time Price Updates: The module ensures that market price fluctuations are reflected on Sentinel. For example:

A node setting a price in USD (e.g., $1) can use Oracle to convert this to the settling denomination (e.g., $DVPN or $ATOM) based on real-time prices.