Oracles
This oracle data provider platform has surpassed 4 million nodes since inception
Can a fully-functional oracle network ecosystem that anonymously collects and validates geospatial (location-specific) data exist? One blockchain firm seems to have gotten the gist of the idea. Founded in 2012, XY Labs and its namesake protocol XYO, which is built on the Ethereum blockchain, seek to reward participants for the genesis, interpretation, analysis, and storage of data to be called upon for specific problems. There are currently over 4 million nodes worldwide on the XYO network. In a recent ask-me-anything (AMA) session with Cointelegraph Markets Pro, Arie Trouw, founder of XY Labs, explained that fundamental to the XYO system is a special type of payload called BoundWitnesses. It contains a list of user-input data points that are signed by one or more nodes in the XYO ne...
Chainlink Verifiable Random Function v2 goes live on mainnet
On Wednesday, blockchain oracle solution Chainlink (LINK) announced the release of Chainlink Verifiable Random Function, or VRF, v2. As told by its developers, the new, improved version of the random number generator can reduce transaction fees by 60% compared to v1. Randomness is a core component of making nonfungible tokens, or NFTs, and gaming applications fair and secure. On their own, blockchains and smart contracts cannot guarantee randomness, but rather require an oracle network to deliver such solutions on-chain. Since its launch, Chainlink VRF (v1) has become the most widely adopted random number generator solution in the blockchain industry, fulfilling more than 3 million request transactions and currently providing verifiable randomness to more than 2,200 unique smart contracts ...
