This blockchain oracle network brings off-chain data to Web3 so devs can unlock the potential of decentralization with real-world information. [CT Accelerator]
A decentralized oracle for real-world uses
Web3 developers aiming to bring real-world utility to blockchain rely on oracles to tap into off-chain resources for information., a decentralized blockchain oracle service, has set out to provide secure and reliable real-world data to blockchain networks in order to fuel a new era of Web3 innovation, where anyone can build and grow a business around a specific use of smart contracts.
By utilizing real-time weather data that originates from aggregators such as AccuWeather, developers can build decentralized insurance contracts for farmers in developing markets, where traditional contracts can be hard to get. This way, when a specific temperature threshold is met, a smart contract can validate weather data and trigger an insurance policy to execute payouts.Adding stop-loss functionality to decentralized exchanges becomes simple with Goracle’s decentralized oracle architecture.
Besides its financial uses, Goracle also helps gaming platforms modify the value or appearance of their NFTs to include lands, avatars, weapons and other items with a data feed provided to smart contracts. Furthermore, Goracle further allows complex code execution by enabling DApps to use off-chain computation or off-chain storage. These capabilities allow DApps such as DEXs or games to increase the decentralization level significantly.
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