With the sudden and explosive rise of Bitcoin and other cryptocurrencies in the mainstream, many users are more aware than ever of all crypto. Ethereum, Smart Contracts and Blockchain Technology Are Becoming Familiar Words
The problem for smart contracts lies in the fact that there is a fundamental difference in formats. Blockchain programming for smart contracts is deterministic – a series of events that unfold one after the other in a sequential order (series of transactions).
Access information outside the chain that is not sequential, and therefore Blockchain would be unable to make sense of or use. This aspect of Blockchain gives it immutability, but reduces flexibility. Enter the oracle.
Although it may seem that smart contracts and holdapps represent the future of all major industries, what many new users do not know is the internal mechanisms of smart contracts. For a smart contract to work properly, it must use an & # 39; oracle & # 39; or an external data point that allows the smart contract to function properly. This data point can be something simple, like a stock price or a rate of interest, or it can be something much more complex, like weather conditions, lease payments, and so on. continued
Currently, there is no simple way to search and access oracle data and, therefore, there is no simple way to create a smart contract or Ðapp using external data. Some companies have provided methods to create oracles, but finding the data points has proven to be painstaking and slow. A new company, Zap.Store, is trying to solve the problem by monetizing data feeds to create oracles. Rather than browsing the Internet, developers can go to the Zap Store, find and create oracles, and access their data with a single searchable database.
Consider how the process could be simple and fast if developers could just search for oracles. They could then, with a click of the mouse, access the code and start using it, rather than building each oracle from scratch. Zap could become the birthplace of many future Ðapps as everyone can now easily connect off-line data to a smart contract to build an Ðapp.
The system also allows data providers to monetize their existing data. a decentralized way. When a Zap subscriber searches for data from an oracle, he uses the ZapMarket Smart Contract to bind the ZAP tokens to the oracle. The subscriber then receives "outlets" that can be used to pay for the research of this oracle. The ZapMarket smart contract then allows for the exchange of public keys between the two parties of the smart contract when the subscriber launches a query using the DOT. At this point, the Oracle can transmit data to the subscriber through the intermediary of an IPBS private pubsub room, which is managed by smart contracts.
Simplifying the Toolkit for Developers
The old KISS saying (Keep It Simple, Stupid) is important when it comes to user interfaces. The Zap team has taken care to create a system in which users are not forced to navigate through complex processes in order to create and access data for an oracle. Rather, users can, with a few clicks of the mouse, accomplish what would have taken hours without the platform.
The Zap platform adds an amazing degree of adjustment to the intelligent contract system. easy to work with, while significantly reducing the time commitment of developers. A system like this seems sure to hang on. Zap is positioned to be the next layer of Ethereum.
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