DeOracle

Overview

DeOracle is a decentralized oracle network for subjective data feeds. DeOracle brings real-world data on-chain and verifies its reliability with DeOracle REP (reputation system). DeOracle is useful for Smart Contract / Dapp developers who are looking for wide scope data feeds not supported by mainstream oracles. Some use cases: prediction markets, betting, lotteries, raffles, insurance protocols, etc.

The problem with existing oracles Existing oracles supply a fixed, slow growing amount of data feeds.
Price Feeds: Only support high volume pairs. ex: USD/BTC, USD/ETH Predictions market: Limited sports data, very limited game-specific data (player stats, etc..) Arbitration: DAOs / legal issues require very subjective data. Remaining data: All other data is left completely abandoned by existing systems! In short, existing oracles are great, but they are NOT flexible or dynamic enough. There is a wide blanket of data / data feeds that is left inaccessible.

Our Solution DeOracle solves this with DYNAMIC, PERMISIONLESS, and RELIABLE data feeds. DYNAMIC Subscribe to existing data feeds or create a new data feed! Maintain that data feed yourself or open it up to other oracles on our network. PERMISIONLESS ANYONE can create a new data feed. ANYONE can subscribe to data on existing feeds. ANYONE can provide answers / updates on existing feeds to gain REP. RELIABLE Data is rated based on it's reliability. Factors for this rating include DeOracle REPutation, collateralized amount up for challenge, number of data feed subscribers. DeOracle REP is soulbound (EIP-5516). It can only be earned through proven trustworthiness on our network and is account bound (not transferable). Bad actors are punished with REP reduction as well as collateral forfeiture.

Built With

• nextjs
• react
• solidity
• typescript