Positioned to be the first dynamic decentralized oracle network built on the Algorand Blockchain, Algoracle enables universally connected decentralized node networks to securely interact as independent sources to provide critical off-chain, real-time external data feeds. The native token for the Algoracle network is GORA.
Here is why GORA is set to become one of the key Oracle tokens and stimulate the real-time data market.
Algoracle is led under the vision of founder Abdul Osman, a veteran in bringing technological products from ideation to delivery to scale. He and his team seamlessly connect in over twelve different time zones, and bring a wide range of global technical depth and perspective.
“There is a large number of exciting applications that can be built on blockchain, and a healthy network of oracles that is just as decentralized and opaque as the blockchain it is built on is crucial. Algoracle believes in security by reducing complexity.” Says Algoracle’s CEO, Abdul Osman.
Algoracle Team members consist of software & Blockchian developers, along with mathematicians that have been running in-depth simulations on what a decentralized economy would look like. The team’s diverse skills provide a unique perspective on helping solve the ‘Oracle Problem’.
The global big data technology market size was $41.33 billion in 2019 & is projected to reach $116.07 billion by 2027 according to fortunebusiness insights.com.
Critical to this growth will be decentralized oracle networks such as Algoracle built on the carbon neutral Algorand Smart Chain. Algoracle will provide trusted and near-frictionless real-time network exchanges that provide accurate and up-to-date weather, Sports, Stocks, and Crypto pricing data to complete smart chain contracts and this will be done with as little infrastructure as possible.
Algoracle will facilitate easy pathways across protocols for data feed providers to connect directly to the Algoracle network by easily connecting their API endpoints to an robust Algoracle website. This addresses a major pain point which feed providers' experience on other protocols of decentralized oracle networks. Those networks force APIs to connect to external adopters, and then those adopters connect to the network. In addition, this also highlights more of the simplicity of Algoracle’s ecosystem. The direct network connection has major benefits such as much faster time to market, greater focus on security by reducing the number of attack vectors which is the dominant benefit of being a part of the Algoracle.
As a carbon negative decentralized network, Algoracle allows users to become node operators and earn revenue by running critical data infrastructure required for the blockchains’ success. This feature will make Algoracle even more attractive for feed providers. In addition to help reduce complex open source network token issues for accessing secure, real time executed smart contract data provided by node operators, fees will be paid by the Algorland applications.The node operators will be financially compensated in Algo tokens which is the native currency of Algorland. This makes being a feed provider for Algoracle a low-risk, high-reward investment but more importantly, it carves out space inside the real-time data decentralized market allowing Gora coin a very attractive token for the future.
The Algoracle roadmap includes several additional innovative initiatives. You can find the roadmap on the homepage of Algoracle.ai. If you are interested in learning more about the company’s real-time data solutions or want to be a node provider, join Algorand’s discord community: https://discord.gg/Pe8rwyPvKp
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Algorand-based Decentralized oracle network, Goracle has announced a technical partnership with Kleros, the dispute resolution protocol. The goal of the partnership is to help resolve disputes that arise on Algorand blockchain.