Oracles are a rising phenomenon in the current blockchain world given the increasing interest in the DeFi applications. No wonder, the competition is sky-high for the emerging oracles of late. But, if an oracle manages to get its IEO sold out in just a few hours of the launch, it certainly speaks of its colossal potential. We are talking about the recently introduced Bridge oracle IEO here which managed to raise a whopping $8 million in no more than 6 hours.
Overview of Bridge oracle
Bridge oracle is a decentralized public blockchain oracle which had its IEO on 15th September, 2020, on BW.com. The oracle has been introduced to leading blockchain network TRON and it’s TRON’s first ever dedicated public oracle.
As a decentralized oracle, Bridge oracle is designed to source real-world data from various public data sources for smart contracts so that they can contribute to real-world use cases in a more proactive way. TRON never had an oracle system before which had severely restricted the scope of operation of the smart contracts operating on the network. With the recent introduction of Bridge, TRON is looking forward to overcoming such limitations and creating more Dapps by the smart contracts.
Here is a brief on the major features of Bridge oracle
- Assures authentic, tamper-proof real-world data for smart contracts and DeFi applications
- Supports multiple major public data sources like URL, Complex URL, Random, BTFS, Nested and WolframAlpha
- Allows to add different kinds of proof to ensure credibility of injected data
- Supports three kinds of API contract- Public API contract, Decentralized API contract and Enterprise API contract especially for enterprises working with dedicated data
- Being a public oracle, Bridge oracle supports mass participation from users
- Allows to source both time-dependent and time-independent data
- Bridge oracle is an open-source blockchain oracle
- Accepts two payment methods- BRG token (Bridge Oracle’s native token) and TRX (TRON token). Payments made with BRG will enjoy handy discounts
Token specifications of Bridge Oracle
As mentioned previously, BRG is the native token of Bridge oracle which can be used to avail the oracle’s services. Here is a brief on the technical specifications of the token-
- Price today– $.006970 USD, as of October 18, 2020
- Market cap- $55,773,814 USD
- Total supply- 10,000,000,000 BRG
- Circulating supply- 8,002,167,205 BRG
BRG listing on exchanges
Exchange Pair Price
BW.com BRG/USDT 0.006969 USD
BW.com BRG/BTC 0.006824 USD
Digifinex BRG/USDT 0.009033 USD
DigifineX BRG/BTC 0.007052 USD
The BRG token will be listed on multiple other leading crypto exchanges by the final quarter of 2020.
