When we started building Goracle in the autumn of 2021, we chose a name that would clearly identify what we do. Anyone in the Algorand community can easily tell that “Algoracle” is an Algorand based oracle solution. In fact, the “Algo” in Algoracle was a reference to our use of Algorand’s sortition libraries, and the fact that we use the same ‘Pure-proof-of-stake’ mechanism Algorand uses to reach consensus.
As we have grown, we have had thousands of interactions around our name. We have decided to incorporate a lot of that feedback about our name and change our name to Goracle.
Confusion with Algorand
As a B2B application, we want to be a key partner to Algorand in onboarding developers from other chains by offering best in class oracle solutions. So far, Goracle has stood out by implementing decentralized feeds for data not available on other chains, yet highly in demand. As such, we have had tens of developers reaching out to us from other chains, eager to build on Algorand.
However, in numerous conversations we have been having, we have heard our name be confused with Algorand. Indeed, only the last 2–3 letters of the names of both organizations differ. Algorand offers the greatest value proposition for developers building blockchain applications, and we want to remove as much of any confusion as possible for anyone outside the ecosystem who is about to onboard to the blockchain.
How do I say that Again?
Algoracle is heavy on consonants, and individuals hearing it for the first time have to have it repeated a few times, and rarely remember it after hearing it a couple times. Furthermore, we have been called ‘Algo Oracle’ more often than we have been called Algoracle. Therefore, it made more sense to reduce the number of syllables from 5 (Al-Go-O-Ra-Cle) to 3 (Go — Ra — Cle). Immediately, we saw a huge change. People got the name right on the first try, they remembered it, and it stood out as unique.
A Key differentiator
Our goal in building a fully decentralized oracle is to bring as many developers to the Algorand platform. By still keeping “Go” and “Oracle” in the name, we can still keep our identity as an Algorand based Oracle (that uses Algorand’s technology) while standing out as a unique name (no more people asking if there is any connection to Al Gore!).
Goracle is a decentralized oracle network that links the Algorand blockchain to the physical world. To obtain data, smart contracts building on Algorand can call the feed contract for values. Goracle will also debut sports, cryptocurrencies, stock, and weather feeds over the coming months.
Goracle employs a network of feed providers and node runners to deliver feeds to smart contracts to ensure decentralization. Currently, institutional-grade providers such as AmberData, Brave New Coin, CryptoCompare, and dxFeed are providing Cryptocurrency price data to power the testnet app. Regarding future goals, the focus will be on adding a variety of feeds such as Sports, Weather, NFT prices as well as off-chain computation capabilities before launching to mainnet.