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HomeCOINSWhat Is DotOracle(DTO) ? Complete Guide Review About ...

What Is DotOracle(DTO) ? Complete Guide Review About DotOracle

What Is DotOracle(DTO) ?

DotOracle is a real-time decentralized Oracle and Cross-chain bridge supported by 8 chains: Polkadot, Ethereum, Binance Smart Chain, Fantom, Polygon, Avalanche, Tomochain, and Casper Network. It is currently the first cross-chain bridge on Casper Network and aims to supports the Avalanche subnet

DotOracle network is a chain-less decentralized network. To achieve fast confirmation of the network, we propose to use the Practical Byzantine Fault Tolerance (PBFT) distributed consensus protocol combined with the Elliptic Curve (EC) Multisignature scheme. The use of the latter is to reduce the communication complexity of the original PBFT protocol. DotOracle connects the real world and other blockchains to the MoonBeam parachain of Polkadot.

DotOracle The reason choose MoonBeam is because it provides an EVM-compatible platform on a parachain. The EVM makes it easy to integrate with other smart contract platforms. Moreover, as MoonBeam is a parachain of , all information/digital assets on MoonBeam will be easily transferred to other parachains in the Polkadot Ecosystem.

DotOracle (DTO)Token Storage Key Points

Coin BasicInformation
Coin NameDotOracle
Short Name(DTO)
Circulating Supply7,377,000.00 DTO
Max Supply100,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Decentralized oracle network

DotOracle network is a chain-less decentralized network. To achieve fast confirmation of the network, we propose to use the following techniques.

  • Fast, Secure, decentralized network
  • Practical Byzantine Fault Tolerance (PBFT) distributed consensus protocol
  • Optimization with the Elliptic Curve (EC) Multisignature scheme
  • Transperancy, MoonBeam Polkadot integration

Decentralized liquidity bridge network

DotOracle is the first dencentralized, non-custodian liquidity bridge network that aims to transfer digital assets back-and-forth between MoonBeam Polkadot and Ethereum in a fast, decentralized, secure way.

  • Fully dencentralized network
  • Seamless interoperability between Polkadot ecosystem and Ethereum
  • Fast assets transfer confirmation with PBFT
  • Non-custodian through the use of Elliptic Curve (EC) Multisignature scheme

Features

DotOracle’s decentralized oracle network provides real-time on-Dot and off-Dot connectivity, providing scalable interoperability between Polkadot and other blockchain ecosystems

Non-custodian decentralized bridge

With DotOracle, assets transfer between blockchain become non-custodian. Users have fully control on their assets during the transfer of their assets from/to Dot to/from other blockchain networks.

Bonded network with slashing

Any nodes must deposit an amount of DTO token to the smart contracts. Violation of the protocol leads to the burn of the deposit token amount of the nodes.

Real-time off-Dot data provider

DotOracle combines PBFT and the Elliptic Curve (EC) Multisignature scheme to optimize the network consensus process, thus allowing to push off-Dot data to MoonBeam quickly, in real-time.

Byzantine Fault Tolerance consensus

DotOracle utilizes the highly secure distributed consensus protocol-Practical Byzantine Fault Tolerance (PBFT) to achieve agreement between the nodes of the network.

High-availability network

DotOracle can provide service as long as 2/3 of the nodes of the network are online.

Full decentralization

DotOracle is a decentralize network of independent nodes designed to be censorship-resistant.

Epoch and network validator nodes selection

The network consists of a maximum of 49 validator nodes that follow the PBFT protocol to achieve the consensus whenever there are requests to the network. On the one hand, the number 9 is selected because it keeps the decentralization level of the network. On the other hand, 49 validator nodes combined with the consensus as described above allow the network to quickly decide the consensus, thus being capable of providing the network service in real-time.

Furthermore, envision that each validator node will be operated by a nancial organization such as an institution, a capital venture, or a DAO-based organization. By being operated by reputable nancial organizations, the network will be more stable in responding to user requests. Any one can operate a node and make it become a validator node by depositing a minimum of 200,000 DTO to DotOracle smart contracts on MoonBeam. If there are more than 49 nodes, top 49 most deposit nodes will be selected as validator nodes of the network.