Cointime

Cointime

Download App
iOS & Android

First Oracle System Built on AO Launched

Validated Project

Author: ArweaveB @ Contributor of PermaDAO

Reviewer: Xiaosong HU @ Contributor of PermaDAO

Protocols and decentralised applications have springing up since Forward Research built and launched AO Computer with the latest being Orbit, a decentralised oracle.

Orbit was annoSam d by Sam Williams as one of the applications built by some Arweave developers in India using AO. AO said that Orbit was the first oracle system built on its system that allows access to the contents of the entire web.

One of the ideas that influence the building Orbit is the realisation of the need by developers for off chain data to build projects. Orbit assets developers to access any data from the off-chain world, its developers said.

“In the web3 space, accessing off-chain data is essential for developing applications for consumer use,” Orbit stated.

The project said it was different from existing solutions because there were no limits to off chain data that could be collected. While other solutions could collect specific types of data like price feeds, Orbit could be used to obtain data from any URL.

“0rbit's architecture guarantees secure handling of requests and responses with zero interference, thanks to the decentralized network of 0rbit Nodes.

“0rbit is, and will continue to be, the essential component in the Arweave ecosystem for building real world applications,” it stated.

A hyper-parallel computer, AO’s core objective is to offer trustless and cooperating computing services without any limits to scaling. AO has recorded over 600 transactions per second in less than 24 hours since it launched.

“Debug" Program:

If you find errors in this article, including typos, grammatical mistakes, incorrect descriptions, ambiguous meanings, redundant descriptions, or other problems, you can give us feedback and we will be rewarded with incentives. Click "here" to give feedback.

🔗 More about PermaDAO ：Website | Twitter | Telegram | Discord | Medium | Youtube

💡 Initiated by everVision and sponsored by Forward Research (Arweave Official), PermaDAO is a "Cobuilding Community" focus on the theme of Arweave consensus storage. All contributions from PermaDAO contributors form the bedrock of data consensus. Let's embark on a journey starting with data consensus and delve into a novel paradigm for decentralized collaboration - Decentralized Autonomous Organizations (DAOs)!

Comments

All Comments

Recommended for you

  • US Spot Ethereum ETF Sees Net Inflow of $9.61 Million Yesterday

    On June 17, according to monitoring by Trader T, the US spot Ethereum ETF experienced a net inflow of $9.61 million yesterday.

  • US Spot Bitcoin ETF Sees Net Inflow of $10.04 Million Yesterday

    On June 17, according to monitoring by Trader T, the US spot Bitcoin ETF experienced a net inflow of $10.04 million yesterday.

  • BTC Surpasses $66,000

    Market data shows that BTC has surpassed $66,000, currently priced at $66,021.58, with a 24-hour decline of 0.05%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ETH Surpasses $1800

    Market data shows that ETH has surpassed $1800, currently priced at $1800.27, with a 24-hour increase of 0.83%. The market is experiencing significant volatility, so please ensure proper risk management.

  • a16zcrypto Policy Chief Criticizes Illinois Cryptocurrency Tax Law: Tax Logic is Absurd and Violates Multiple Federal Laws

    On June 17, Miles Jennings, the policy chief of a16zcrypto, stated that the digital asset tax law signed by the Governor of Illinois is one of the most restrictive regulations on cryptocurrency in the United States. The law imposes taxes on the exchange, transfer, and custody of digital assets: buying Bitcoin incurs a tax; storing Bitcoin on Coinbase also incurs a tax, and so on. Across the United States, there are virtually no similar financial transaction taxes on stocks, bonds, or derivatives. This means that cryptocurrencies are being treated differently, which violates multiple federal laws. Furthermore, the logic behind this taxation is nonsensical: transactions involving paper certificates of stocks, bonds, and derivatives are not taxed, yet transactions recorded on a blockchain are taxed simply because of their format? This is akin to taxing emails. Illinois could have embraced blockchain innovation and enjoyed the cost advantages it brings to the general public; however, the state is instead preparing to penalize local entrepreneurs and ordinary residents who use cryptocurrency. It is truly regrettable. Just recently, Illinois introduced a reasonably scoped Digital Assets and Consumer Protection Act, demonstrating a positive and inclusive attitude towards blockchain technology. Yet, with this new tax policy, the attitude has taken a complete 180-degree turn. If states implement such discriminatory taxes that target only a single asset class, industry developers and ordinary users will migrate to other regions, ultimately resulting in losses for everyone.

  • BTC Falls Below $66,000

    Market data shows that BTC has fallen below $66,000, currently priced at $65,977.25, with a 24-hour decline of 1.34%. The market is experiencing significant volatility, so please ensure proper risk management.

  • ETH Falls Below $1800

    Market data shows that ETH has fallen below $1800, currently priced at $1799.84, with a 24-hour decline of 1%. The market is experiencing significant volatility, so please ensure proper risk management.

  • CLARITY Act Proposes $150 Million Funding to Combat Digital Asset Crimes

    On June 16, U.S. Senator Cynthia Lummis posted on the X platform, stating that the CLARITY Act will allocate $150 million to support law enforcement in tracking down fraudsters and other criminals in the digital asset space, enhancing efforts to combat cryptocurrency-related criminal activities.

  • Trump: Strait of Hormuz Will Fully Resume Navigation by Friday

    Trump: The Strait of Hormuz will fully resume navigation by Friday.

  • SK Hynix Responds to Rumors of 100 Trillion Won Shareholder Return Plan

    On June 16, SK Hynix addressed market rumors regarding a proposed 100 trillion won shareholder return policy, stating that the reported figure is inaccurate. The company indicated that it is exploring various options to enhance shareholder value, but has never discussed the specific scale of shareholder returns mentioned in the reports.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company