If we define blockchains as trust machines, then oracle machines can essentially be described as machines that maintain and establish trust. In fact, the blockchain itself does not generate trust, and the input of trust comes from oracles. The modular growth of smart contracts will bring a large number of interaction requirements and corresponding differential data requests. To this end, Bitbyte.Finance goes online with the oracle machine, provides on-chain protocols and various modules, interacts with the off-chain world, and shares its own modules with other protocols, and finally uses the oracle machine in order. Realize further value fission of data assets.
The probability of oracle value is seriously underestimated. The oracle machine is an indispensable choice for entering Web3, but with the increase of on-chain applications and off-chain associations, the cognition of the oracle machine has been stuck in the price feed, which obviously underestimated its value. Proofs can be provided, data can be provided, and statistics can be expanded to prove off-chain events, such as proof of savings to prove the status of assets, and together with the protocols and modules embedded in the protocol, provide verifiable random numbers for games on the chain, through proof of reserves Improve security and transparency, and provide scalable, low-cost computation for Solidity smart contracts with a variety of real data.
Bitbyte.Finance will further release the data ownership wrapped in the central giant through the decentralization of data. Users will have more rights to their identity and data, and through the data system, the data will be transmitted to the chain, a decentralized A digital system can be established, that is, DID identity. With this DID, many jobs can be proved, and centralized and decentralized systems such as data exchange, auditing, utilization, profit sharing, and authorization can also be naturally expanded.
In the continuous development of digital assets in SWAP application latitude and scene experiments, redefine decentralized social networking, provide innovative solutions for blockchain finance, realize the whole process of invitation relationship and asset allocation recorded on the chain, and reward modular parameter settings according to The invitation relationship, the unique custom airdrop pool, and its sharing are instantly confirmed and confirmed. In this ever-changing industry, people and real data are the core resources. The airdrop pool is only the first step, and the data confirmation and behavioral rewards of the whole platform are the core driving force for starting the oracle.
In the future, in order to help users verify and manage their identity credentials in web3, Bitbyte.Finance, in addition to providing traditional compatibility and privacy guarantees that traditional DIDs do not have, can also integrate DAO members' activity participation information and qualification information using oracle machines in Off-chain, the DAO manager can issue the corresponding POAP (proof of attendance) and the deployment of these services, which to a large extent further opens up our imagination of the web3 application scenarios of the oracle.
About Bitcoin Finance
Bitbyte provides a full-category, full-cycle collection of best practices and management tools for Web3 users' smart contracts. It also implements token governance scenarios through the smallest unit of governance called instrumentation.