Decentralized Oracle Plugin Offers Solution for XinFin’s Smart Contract

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,297,952,897,424	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,297,952,897,424

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-42.31	-0.06%	66,217.81	66,217.80	66,217.81

Price Change

Price Change %

Current Price

Bid Price

Offer

-42.31

-0.06%

66,217.81

66,217.80

66,217.81

High Price	Low Price	Open Price	Prev. Close	52 Week Range
66,772.83	65,666.25	66,380.59	66,260.12	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

66,772.83

65,666.25

66,380.59

66,260.12

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:47:05	0.001516	66,217.80	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

14:47:05

0.001516

66,217.80

USD

Price x Volume	Volume	Base Symbol	Related Pairs
483,520,281.46	7,309.61	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

483,520,281.46

7,309.61

Decentralized Oracle Plugin Offers Solution for XinFin’s Smart Contract

16/09/2021 1:24pm

NEWSBTC

Blockchain technology indicates not only bitcoin but in reality, it has the capacity to change businesses with smart contract-related blockchain frameworks like XinFin. There are many oracles present which play a major role in connecting the gap between blockchain application and external data, however, not all of them succeed. Decentralized oracle platform Plugin offers cost-effective solutions for any smart contract on XinFin platform. GoPlugin.co gathers information from various external sources, consolidates and makes sure the exact value is offered to its users at any point of time. Moreover, this is the hardest part for any decentralized oracle provider which is trusted highly by all its users. More so, the Plugin ecosystem is based on ‘PLI’. In addition, the PLI token was created on XinFin’s XRC 20 standard in order to decrease GAS fees. It also enables transaction time and offers feasibility to many DApps to reach Data Oracle to many people worldwide. The data gathered from various oracle nodes are consolidated to reach the exact value. This does not indicate that the system is completely decentralized. In order to avoid vulnerabilities and offer a blockchain peer-to-peer system, decentralized oracle providers must rely on the community to select the data sources and validators, in addition to the mechanism of rewarding and penalizing. Furthermore, the Plugin enhances a high level of scalability and security for any type of blockchain apps that uses its data feeds. The main benefit of utilizing Plugin is that the data feeds are provided by the platform at a very low price as compared with other oracle providers. Also, the data feeds are diversified as per the needs of the clients and the XinFin community. Therefore, Plugin can be used as a decentralized oracle provider which is economical, scalable, and highly trusted. Moreover, the DApps potential is limitless, and oracles are necessary to enhance the standardisation of their institutions.

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