Oracle is definitely the trust machine in the Web3 world, solving the problem of data trust.
17 Jun 2023, 13:23
🔈Oracle is definitely the trust machine in the Web3 world, solving the problem of data trust. Today, let's discuss the importance of oracles.
🔵Oracles are the key solution to address the data trust problem in #Web3 and have demonstrated irreplaceable value in fields such as #insurance, #finance, random prediction, and the Internet of Things.
🔵Oracles play the role of trusted #bridges in blockchain, establishing connection channels between on-chain and off-chain, providing crucial support for the development of the entire Web3 ecosystem.
🔵The core logic of oracles is to ensure the #credibility of data by constraining and guaranteeing its #authenticity and #security through data source, standardized data acquisition processes, and uniform data formats.
🔵#Decentralized oracle networks are an important development direction, ensuring the #accuracy and #consistency of data through distributed nodes and multiple security layers, avoiding single point-of-failure issues.
🔵Oracles play a significant role in expanding #blockchain application scenarios and driving global digitization, providing key solutions to achieve trust and promote the development of the #digital economy.
🌟As a decentralized oracle network, #PlugChain demonstrates excellent performance and #crosschain capabilities in data acquisition and transmission, providing strong support for the extension of blockchain networks and smart contract applications.