The Bridge Oracle IEO, which sold out in six hours on September 15 at BW.com, launches the TRON network’s first Oracle system and has already caused excited chatter about the cryptosphere. What exactly led Bridge to raise $ 8 million in a matter of hours?
To understand exactly why smart contract and blockchain advocates are getting so excited about Bridge, this article explores the incredible potential of smart contracts in decentralizing trust, and the final piece of the puzzle Bridge Oracle proposes.
Decentralization of the web
Since migrating to its native architecture in 2018, the TRON protocol has made strides in the emerging technology ecosystem in two short years, with its smart contract platform now recognized as one of the leading lights of blockchain. Its mission was simple: to usher in the era of the third web or Web 3.0, where the new web will enable people to use the internet as it was intended: an open access network that is decentralized to enable free and fair use for everyone .
For users, this meant regaining control of their own data. For developers, this meant the flexibility and freedom to code with any high-level language for smart contracts for decentralized applications (Dapps) and decentralized autonomous organizations (DAOs).
While Ethereum is still at the forefront of smart contract platforms, in three short years TRON has built an impressive base of users, developers and applications that continues to grow at a pace that is Ethereum and drive it away as the best Dapp network of choice.
Currently just over 327,000 active accounts on the networkTRON is about to surpass the number of active Ethereum accounts (currently 455,000). While Ethereum has struggled to avoid user outages, TRON is making steady gains from its all-time high, thanks in no small part to better scalability in terms of transactional capacity and costs – something Ethereum users are painfully reminded of every time they have interact with their blockchain.
Oracles: The Missing Link
Smart contracts themselves are an important part of this Web 3.0 future – taking decision-making and contract execution away from centralized entities and ensuring that objective code automatically verifies terms and executes instructions.
But to do this, smart contracts need authentic, real data that accurately represents the real-world data sets that ultimately specify the terms of contracts. Therein lies the failure of current smart contract implementations: if the data is not true, or if it is not certain that it is free from tampering and manipulation, how can the agreements bound by the contract be absolutely reliable?
This is the precise solution promised by Bridge Oracle – a bridge that ensures that current, clean and accurate real-world data is securely injected into smart contracts in the way it can be used properly.
The industries badly in need of this solution are many. Insurance policy who can finally use verified accident and damage data to accurately calculate policyholder payouts. Shipping companies that can reliably track deliveries from source to destination, with payments made as soon as the recipient signs. Outsourced talent companies that can use trusted fraud-free results data, where payments are automatically settled with service providers based on accurate pay-per-action,
Bridge Oracle: The Final Piece of the Web 3.0 Puzzle
The premise of Bridge Oracle as the smart contract enabler is already attracting a lot of interest, with major industry publications steadily reporting on the rapid uptake of its limited IEO on BW.com.
With blockchain fixtures Hakan Estavi (CEO) and Keyvan Abedi (DAO and Dapp pioneer) rely on an advisory panel led by Bitcoin.com Director Mate Tokay, The currency analysis Director Sydney Ifergan and TRON influencer Mike McCarthy, it is no surprise that much interest has grown around Bridge Oracle.
As more use case explorations move towards the planned mainnet launch in the coming months (Q4 2020), there is a clear urgency for blockchain investors to get to the ground floor of a rare and unique opportunity to participate. to mark a turning point for smart contract acceptance.
Already oversubscribed on its private sale and its public IEO, BRG tokens will be available for purchase on Digifinex, stating live in a few days.
With oracles completing the smart contract premise for real-world application, there is every chance that the era of real-world smart contract applications is soon upon us.
Learn more about Bridge Oracle’s advanced DeFi protocol: https://bridge.link/