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Operators and submission

What an operator is​

An oracle operator (or node) is a signing key registered with the oracle contract. Only registered operators can submit a rate. The contract accepts between 2 and 10 operators, and a rate is agreed only when at least the required number of them (the quorum, at least 2) match.

Each operator signs its own submissions, so the contract records exactly which operators submitted which rate.

How operators submit​

The oracle job runs every 5 minutes. On each run, every operator:

  1. finds the contracts that have reached their expiry and have no agreed rate yet;
  2. reads the current rate for each contract's currency pair from the price source;
  3. submits that rate to the oracle contract for each contract, signed with its own key;
  4. triggers settlement for any contract whose rate is now agreed.

The oracle contract decides which submissions it accepts and when a rate is agreed. See Rejection rules.

Who runs the operators​

On testnet, BlockFinaX runs the operators. Independent operators, each running the same rules, are part of the planned oracle upgrade. See Upgrades.