PlugChain aggregated cross-chain oracle protocol, which can provide safe and reliable data

PlugChain
4 min readOct 22, 2022

Foreword: With the continuous development of blockchain technology and changes in many fields, the unique decentralized mechanism, openness and transparency ensure the security of information. In the era of frequent technological hotspots, realizing the application of technology can gain the upper hand in the new round of technological competition. At this time, PlugChain firmly grasps the weather vane of the times, seizes the gap of upstream services of blockchain, strives to build a public chain that serves the world, and takes advantage of the aggregated cross-chain oracle protocol to share the dividends of new technology applications with users.

PlugChain oracles trigger smart contracts to achieve millisecond-level services

The application of blockchain is called decentralized application DApp. All DApps are implemented based on smart contracts. However, the characteristics of smart contracts are that they cannot actively request data from the outside world, cannot actively obtain information, and can only passively accept information and data outside the chain.

Therefore, each smart contract is a program that will not be launched until a trigger condition is met. Therefore, in general business scenarios, some off-chain data needs to be used to start. This requires an oracle machine to complete, because the application on the blockchain needs to read a consistent off-chain data through the oracle machine due to the needs of consensus. Obviously, to ensure the accuracy of off-chain data, the selection of data sources has become a crucial step.

The aggregated cross-chain oracle protocol is the biggest advantage of PlugChain. PlugChain’s high-expansion and high-performance cross-chain framework supports cross-chain Swap function. The function is simple and safe. It can directly link multiple exchange APIs in the escrow account to achieve Millisecond-level quotations do not need to rely on external oracles with price delays, making up for instant cross-chain gaps in the market.

At the same time, the aggregated oracle protocol created by PlugChain not only has the ability to serve 100+ mainstream public chains around the world, but also realizes data input and output, data governance processes through PlugChain cross-chain protocols, smart contracts, big data, and AI technologies. Through ONP (Oracle Network Protocol), it is transmitted to 100+ mainstream public chains around the world, building a bridge between the Web2.0 and Web3.0 eras, so as to accelerate the historical development of Web3.0 on the basis of solving the problem of Web3.0 raw materials.

PlugChain Global DAO Community Governance, Injecting Development Momentum

PlugChain’s global DAO community, that is, users self-organize and collaborate to build the Web3.0 ecosystem. DAO is established in user interaction and continues to create value. As a decentralized autonomous organization, Plug DAO is a case of successful application of blockchain technology. An organizational form kept running through smart contracts, encoding financial transactions and rules on the blockchain, avoids reliance on an authority — called “decentralization” and “autonomy.”

In a sense, Plug DAO is like a well-organized and decentralized venture capital fund, without a centralized decision-making mechanism to reduce costs and provide investors with more control and access. As an important link for the ecological maintenance of PlugChain, Plug DAO is an important driving force for the ecological development of PlugChain.

Community construction takes “value decentralization” as the core as the guiding ideology of the community, and community profits are shared by community members. This goal will be gradually realized, and the ownership and operation model of Plug DAO will realize the transition from centralized management to decentralized governance. The bottom-up decision-making system of Plug DAO is transparent, and the hierarchical structure and hierarchy will become the history of human society. The underlying technology based on blockchain greatly reduces the cost of governance, and also stimulates the enthusiasm of users to participate in DAO governance. In the PlugChain ecosystem, a consensus has been reached among users before the product is launched. After the product is launched, new business forms can be quickly upgraded to respond to market demands.

Conclusion:

With the increasing application scenarios of smart contracts and the popularization of various DeFi and NFTFi applications, the blockchain needs to interact with the world outside the chain, and oracles have also become an important infrastructure for the blockchain. The oracle machine needs to solve the problem of trust and security, and it has become a popular area of ​​the new public chain. PlugChain is committed to the “cross-chain + oracle” service application of the blockchain, focusing on the upstream of the blockchain, and the future is promising.

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PlugChain

PlugChain takes the aggregated cross-chain oracle protocol as the core, integrates the advantages of high performance, high expansion, low gas!