The Currency Analytics
By Sydney TheCMO
Importance of web decentralization
Current problem with smart contracts
How would Bridge oracle help here?
Web 3.0 is the much-awaited upcoming shift in the web world which is projected to dawn in a new era of open-access decentralized internet.
Decentralization of the internet will bring in benefits for both users and developers.
For users, it would mean gaining control over their data right into their own hands. In regard to developers, it would imply freedom and flexibility to code up with any kind of…
Now, smart contracts are a vital aspect of the upcoming 3rd Wave or Web 3.0. They are engineered to take away contract fulfilment and decision making from the centralized…
However, to function as per their true potential and design, smart contracts need authentic real-world data which can precisely represent off-chain data sets which specify the…
The problem is that the underlying protocols of blockchain don’t allow accession of off-chain or real-world data.
This is where Bridge oracle comes to the rescue.
Oracles can be defined as the bridge between blockchain’s on-chain world and the off-chain external word data.
Bridge oracle is a decentralized oracle. Aptly named, the oracle assures clean, accurate and authentic real-world data for smart contracts so that they can function as per their…
Bridge oracle allows accession to off-chain data through various types of API and parsing helpers. It even allows you to add different extra data sources.
One of the most talked about oracles this year, Bridge oracle had already garnered massive interest even before its IEO.