Blockchain
By Sydney TheCMO
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The quotient of immutability
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Oracles come into play
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Bridge offering tough competition
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Blockchains are no longer limited to cryptocurrencies and are fast making headway into the mainstream world of late.
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The news has been confirmed by leading international news organization Associated Press. The historical organization has been shouldering the responsibility of counting votes as…
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To receive the trust and approval of something as esteemed as election results is certainly a milestone victory for a new technology like blockchain.
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It’s to note here, blockchain smart contracts are unable to access real-world data given a set of restrictions posed by the underlying protocols of blockchain technology.
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Oracles can be defined as a middleware which works to connect on-chain (blockchain) platforms with the off-chain (external world) data.
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In light of the above discussion, the blockchain where the election results would be published won’t be able to source the information independently.
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Running on the Ethereum network, Chainlink is a decentralized oracle which means it sources data from multiple sources.
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Although Chainlink enjoys the numero uno position as the oracle service provider today yet a bunch of emerging oracles are posing a tough competition here.
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One of the major factors that provide an upper edge to Bridge over Chainlink is its advanced network infrastructure.
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Bridge has started gaining interest ever since the announcement of its launch. The oracle had a highly successful IEO in September where the entire IEO got sold out in just 6…
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