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DevelopersGuides
  • FAQs
    • What is Bond?
    • What problems we are solving?
    • What is a social graph?
    • What is Decentralised Social Relations?
    • Where is the data created by Bond Network’s interactions stored?
    • Is Bond available on platforms other than Ethereum?
    • Who pays the “gas fees” for On-Chain social behaviours on Bond Network?
    • How Bond promotes the development of its social network?
    • Can the Bond project help users bear the cost of account creation?
    • How can users gain rewards in Bond?
    • What is the Reward Mechanism Based on Referral Network in Bond Network?
    • What risks should users be aware of when participating in Bond's reward mechanisms?
    • How does Bond promote active participation and community building through its reward system?
    • Can non-KOL users earn significant rewards in the Bond project?
    • What is Social Value, and how is it measured in the Bond project?
    • How does Bond's reward model ensure fairness?
    • Can the weight parameters for Social Value calculation be customized?
    • What is meant by Continuous Optimization in the Bond reward model?
    • How is the Team Value calculated in Bond?
    • What is the significance of the weights in the calculation of Social Value?
    • Is there a way to test the Bond reward mechanism before full implementation?
    • Where can I get Bond API?
    • What is an Oracle?
    • How is Bond Oracle solution unique?
    • Why do blockchains need oracles?
    • What is "off-chain data"?
    • What is the oracle problem?
    • What is the Bond Oracle?
    • What is a decentralized oracle network?
    • What is a node operator?
    • What is Bond’s economic model
    • What makes the Bond Oracle more reliable than other oracle networks?
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  1. FAQs

What is a decentralized oracle network?

A decentralized oracle network is composed of multiple blockchain oracles run by independent operators to gather and validate data from various off-chain sources. The responses from these oracles are combined to form a single trustworthy data point, usable in triggering smart contracts across different blockchains or any system requiring provably accurate information. The Bond Oracle consists of several decentralized oracle nodes operating independently, allowing, for instance, multiple nodes to aggregate off-chain data from different sources rather than relying on a single oracle. This decentralized approach ensures superior security and reliability for both on-chain and off-chain components of a decentralized application, preventing data manipulation.

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Last updated 1 year ago