- March 11, 2021
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Public oracle project, Bridge Oracle successfully completed the launch of its mainnet on Tron blockchain on Thursday. The mainnet launch aims to give Tron blockchain users access to implementing real-world decentralized applications, or DApps, by connecting them to off-chain data.
Bridge Oracle, a Tron-based public oracle aiming to play a similar role to Chainlink on Ethereum, announced the launch of its mainnet on Thursday through email. Touted as the first-ever public oracle project on Tron’s blockchain, Bridge Oracle will allow users to deploy real-world DApps on Tron through its oracle system.
“The mainnet launch will allow you to deploy real-world connected DApps using Bridge Oracle on the Tron network,” a spokesperson from Bridge Oracle stated. “It’s about time you start to prep up by creating your DApps on Shasta and Nile test nets. We will soon be coming up with more updates.”
Smart contracts embedded in blockchains pave the way to create DApps, DAOs, and other cool stuff on a blockchain. However, most of these smart contracts cannot interact with off-chain data hence the need for oracles. Oracles are becoming a key ingredient in the cryptocurrency ecosystem – the rise of Chainlink’s role in decentralized finance (DeFi) being a key example of why there’s a need to connect blockchains to real-world data.
While Ethereum developers quickly solved the issue of oracles with the rise of Chainlink, TRON blockchain has suffered from off-chain data connectivity issues due to the absence of one. Bridge Oracle, the first-ever public oracle system on Tron, aiming to provide an open-source platform to the public to solve this problem, once the mainnet launches.
Bridge Oracle will provide access to real-world data for DApps and DAOs built on Tron through “varied forms of APIs, as well as parsing helpers, such as XML, JSON, and HTML”, the report further reads. The platform will also allow multiple proofs to authenticate the data to ensure it is truthful and trustworthy.
Bridge Oracle provides multiple APIs to ease integration on different types of oracles offered on any dApp. According to the report, the platform offers a wide range of external data sources to enhance data usage and allow flexibility when integrating the oracle into your DApp.
Users can pull data from a wide variety of oracles on Bridge including the Wolfram system, data from URLs, an enterprise oracle for businesses, and BFTS, which allows users’ contracts to be able to interact with the BTFS service.
The public and open-source oracle will also help small businesses to integrate on the Tron blockchain, the spokesperson continued. The platform’s public and open nature aims to “remove cost and developmental constraints for small businesses” joining the Tron network while “offering them a conducive economic environment” to grow.
“With small businesses gaining stronger traction than big corporations worldwide, a public oracle like Bridge Oracle has been the need of the hour, and the upcoming mainnet launch will finally turn these visions into reality,” the spokesperson concluded.
Following the mainnet launch, the team will launch enterprise oracle systems for institutions and businesses; add the sources of data on oracles, and launch a decentralized oracle system in 2022.
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