Tron (TRX) to receive its first public oracle by the end of the quarter

Tron (TRX) to receive its first public oracle by the end of the quarter
фото показано с : invezz.com

2021-3-17 13:57

The success of Chainlink (LINK) has shown how important public oracles are to the crypto/blockchain projects, and how sought-after they can be if done right. Now, the Tron blockchain is about to receive its own public oracle project, and not through a partnership with Chainlink — instead, Tron chain just saw the launch of a new project called Bridge Oracle.

Introducing Bridge Oracle — Tron’s first public oracle

Bridge Oracle is a Tron-based public oracle that aims to play the same role as Chainlink within Ethereum’s ecosystem. The project saw a successful launch of its mainnet based on Tron last Thursday. With the mainnet up and about, the project will provide Tron blockchain users access to real-world data, which can then be implemented into smart contracts and dApps within the Tron ecosystem.

The inability of smart contracts, dApps, and other blockchain products to interact with off-chain data has been a major problem for Tron developers, and the need for oracles has become rather big. In fact, they are becoming a key ingredient in the crypto sector, not only because they provide data, but because they act as bridges between the real world and the blockchain ecosystems.

Bridge Oracle: Tron’s version of Chainlink

As mentioned, Ethereum-based devs quickly solved the problem of oracles by creating Chainlink. However, Chainlink is not compatible with Tron (TRX), which is no longer a part of Ethereum’s ecosystem, but its own blockchain. As such, it couldn’t use LINK’s solution, which left it with no access to off-chain data. Bridge Oracle will solve the issue and finally bring TRON all the possibilities that have been a part of Ethereum for as long as LINK has existed.

Naturally, the project will also offer multiple proofs that the data is authentic, truthful, and trustworthy. On top of that, Bridge Oracle will be very easy to integrate thanks to multiple APIs, and it will use a wide range of external data sources.

As a result, it will boost data usage and flexibility. Some examples include Wolfram system, URL data, BFTS, and more.

The post Tron (TRX) to receive its first public oracle by the end of the quarter appeared first on Invezz.

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Источник: invezz.com

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