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
|Circulating Supply||7,377,000.00 DTO|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click 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
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.
DotOracle can provide service as long as 2/3 of the nodes of the network are online.
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.