What is oracle?

To start with, let’s learn a bit what oracle is and what function it performs. Oracles are responsible for sending data from the outside world to a blockchain so specific data, like temperature. They are third-party services that provide smart contracts with external information.

The oracle is the layer that verifies, queries, and authenticates external data sources (usually via trusted APIs), proprietary corporate data feeds and internet of things feeds and then relays that information.

Without oracles, smart contracts would have very restricted usecase as they would only have access to data from their networks.

Let’s imagine that Adam and Bob want to bet on some footbal match. Adam bets $ 30 on Barcelona and Bob bets $ 30 on Real Madrid, with the $ 60 total held in a smart contract. When the game ends, how does the smart contract know whether to send the funds to Adam or Bob? It requires an oracle to find accurate match result and bring it to the blockchain in a secure way.

Why FLUX is promising oracle?

Flux is a cross-chain oracle aggregator (it hardens the security layer for data feeds) that provides smart contracts with access to economically secure data feeds on anything.

There are main advantages and features of Flux Protocol on my infographic and below:

1. Flux is written in RUST and will be launched on NEAR and Solana

2. Flux Protocol provides smart contracts to the blockchain to interact with real-world events such as sport bets, predictions and so on. Check Pulse (built using Flux Protocol)

3. Flux is backed by top investors such as Distributed Global, Coibase Ventures, CoinFud and others. Read more here

4. The protocol is governed by a Decentralized Autonomous Organization (DAO) made up of FLX token holders. They can control the quality of projects that interface with the Flux Oracle.

Community govern and have a big impact on the protocol including changes to data request fees, upgrading the system, and changing network parameters

5. Expereinced team

6. 5% of token total supply allocated to supporting projects that utilize Flux oracle


FLUX is announcing $FLX Token and Mainnet Launch Details

Read here: https://fluxprotocol.medium.com/announcing-flx-token-and-mainnet-launch-details-44b71ccd9f5f

Useful links:

Website: https://www.fluxprotocol.org/
Twitter: https://twitter.com/fluxprotocol
Discord: https://discord.com/invite/sJUveAvJHf
Medium: https://fluxprotocol.medium.com/
Telegram chat: https://t.me/fluxprotocol
Telegram accouncment channel: https://t.me/fluxannouncements



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