Brave New Coin Partners with Algoracle to Provide Extensive Financial Data to the Algorand Project

By AIT News Desk On Feb 1, 2022

Algoracle and Brave New Coin announced a collaboration between the two companies, bringing Brave New Coin’s data, analysis, and research to the Algorand ecosystem.

Founded in 2014, but tracking cryptocurrency prices since 2010, Brave New Coin is a leading provider of standard and nonstandard, institutional grade data solutions. On a mission to provide greater market transparency and price discovery, Brave New Coin has established a uniform classification system (taxonomy) for cryptographic assets, and cemented its position as a thought leader in the Blockchain industry.

Algoracle is the first decentralized oracle network on the Algorand blockchain. Currently in Testnet, Algoracle has been building towards Mainnet launch in April and will become a much needed utility for the Algorand community.

“We are very proud to bring Brave New Coin to the Algorand ecosystem, we feel their track record of providing solid data to the world’s financial market will be a huge asset to the Algoracle project and every project in the ecosystem that is wanting to build or utilize accurate data,” said Algoracle CEO, Abdul Osman.

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This partnership opens the door to a new growth opportunity for all the parties involved including dApps and developers who are wanting to take advantage of the security, speed, scalability and low cost transactions fees of the Algorand Blockchain.

“We were one of the earliest market data vendors and price aggregators for crypto assets, and we built the first Bitcoin index, the BLX, which is widely used by traders and analysts as a reliable reference tool for price discovery,” Fran Strajnar, CEO of Brave New Coin added. “We are always happy to support key infrastructure such as the Algorand ecosystem and projects like Algoracle which bring market initiatives in Blockchain and digital assets, including industry standards, interoperability, derivatives, structured products, DeFi and oracles.”

Brave New Coin is a reliable data provider for Chainlink, Band Protocol, Amazon Alexa, Nasdaq, Refinitiv, RIMES and QuantHouse to name a few. This same high-quality data is now available to dApps on the Algorand Blockchain via Algoracle. Through Algoracle, Brave New Coin will be providing market volume-weighted reference rates for over 6500 market pairs to the Algorand ecosystem.

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