What Is the Difference between a “Pull” and “Push” Oracle Model?
In a "push" model, the oracle node proactively sends data updates to the smart contract on a regular schedule or when a significant price change occurs. In a "pull" model, the smart contract or a user initiates a request to the oracle, which then fetches and provides the data.
The push model is generally preferred for derivatives as it ensures timely, real-time data for critical events like liquidation.
Glossar
Push Oracle
Oracle ⎊ A Push Oracle is a data delivery architecture where the oracle network nodes are responsible for actively submitting and updating the latest off-chain data, such as market prices, onto the blockchain at predefined intervals or when a significant price deviation occurs.
Pull Model
Framework ⎊ The Pull Model, within cryptocurrency derivatives and options trading, represents a strategic paradigm shift from traditional push-based order execution.
Push Model
Transmission ⎊ This describes the active, continuous sending of data updates from a source to a consumer, contrasting with models that require the consumer to request the information periodically.
Smart Contract
Code ⎊ The contract is fundamentally self-executing code deployed on a distributed ledger, embodying the terms of the agreement in an immutable format.