What is an Oracle?
Oracles are centralized or decentralized blockchain protocols of the on-chain and off-chain world. They accomplish this by rescuing, and confirming off-chain data. Also, these platforms deliver the data feed to complicated smart contracts of decentralized applications.
Top Oracle Projects: Universal Market Access (UMA)
UMA accomplishes this by disclosing them to real-world assets on Ethereum’s blockchain. At the time of writing this, the UMA price is sitting at $2.62. Likewise, it has a 24-hour trading volume of $20,068,955 and a markercap of $175,398,766.
Top Oracle Projects: DOS Network (DOS)
The DOS Network is a layer 2 chain decentralized data oracles network, which can sustain numerous mainstream blockchain protocols. It also delivers real-time data feeds, attaching DApps and smart contracts with trustworthy data sources and heightened computation power. The DOS Network is incredibly quick, finishing the off-chain process in less than 1 second. Yet, DOS is usually restricted by the implementation of the base layer 1 protocol. At the time of writing this, the DOS price is sitting at $0.001043. Likewise, it has a 24-hour trading volume of $16,269 and a markercap of $141,820.
The project’s main goal is to improve the across-the-board usability of blockchain technology by using real-world data and computation power. With permission for multiple heterogeneous blockchains, DOS Network is a competitor to bridge the real world and smart contracts.
Top Oracle Projects: Aeternity (AE)
Aeternity is a smart contracts blockchain protocol with the integration of oracles. It is a Turing comprehensive, extremely scalable, and sharding-friendly blockchain. Aeternity enables off-chain contract implementations. This decentralized data oracle help is particularly significant and attractive because it eradicates the requirement to trust any other source. No other mainstream blockchain protocol presently has this functionality. At the time of writing this, the AE price is sitting at $0.07606. Likewise, it has a 24-hour trading volume of $724,587 and a markercap of $27,175,384.
Top Oracle Projects: Band Protocol (BAND)
Top Oracle Projects: Chainlink (LINK)