Bridge Oracle, a public oracle project, successfully completed the launch of its mainnet on the Tron blockchain on Thursday. The mainnet launch aims to give Tron blockchain users access to implement real-world decentralized applications (DApps) by connecting them to off-chain data.
Bridge Oracle, a Tron-based public oracle set to play a role similar to Chainlink on Ethereum, announced the launch of its mainnet via email on Thursday. Bridge Oracle is considered the first public oracle project on Tron’s blockchain and enables users to deploy real DApps on Tron via its oracle system.
“With the start of the mainnet, you can provide real connected DApps with Bridge Oracle in the Tron network,” said a spokesman for Bridge Oracle. “It’s time you started preparing by building your DApps on Shasta and Nile testnets. We’ll be releasing more updates soon.”
Smart contracts embedded in blockchains enable the creation of DApps, DAOs and other cool things on a blockchain. However, most of these smart contracts cannot interact with data off-chain, which is why oracles are required. Oracles are becoming a key part of the cryptocurrency ecosystem – the rise of Chainlink’s role in decentralized finance (DeFi) is a key example of why blockchains need to be connected to real world data.
While the developers of Ethereum quickly resolved the oracles problem with the advent of Chainlink, the TRON blockchain suffered from data connectivity issues out of chain due to the lack of an issue. Bridge Oracle, the first public Oracle system on Tron, with the aim of providing the public with an open source platform to solve this problem as soon as the mainnet is started.
Bridge Oracle will give DApps and DAOs based on Tron access to real data via “various forms of APIs and parsing aids such as XML, JSON and HTML”, the report said. The platform also allows multiple proofs to authenticate the data to ensure that it is truthful and trustworthy.
Bridge Oracle offers several APIs to simplify integration with different types of oracles offered on each dApp. According to the report, the platform offers a wide range of external data sources to improve data usage and allow flexibility in integrating the oracle into your DApp.
Users can pull data from a variety of oracles on Bridge including the Wolfram system, data from URLs, a corporate oracle for businesses, and BFTS, which allows user contracts to interact with the BTFS service.
The public and open source oracle will also help small businesses integrate with the Tron blockchain, the spokesman continued. The public and open nature of the platform aims to “remove cost and development constraints” for small businesses joining the Tron network and “provide them with a favorable business environment” to grow.
“With small businesses gaining a foothold worldwide than large companies, a public oracle like Bridge Oracle was the order of the day, and the upcoming Mainnet launch will finally turn those visions into reality,” the spokesman concluded.
After the start of the mainnet, the team will start enterprise Oracle systems for institutions and companies. Add the data sources to oracles and start a decentralized oracle system in 2022.
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