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HomeCOINSWhat Is OpenLink (OLINK)? Complete Guide Review About OpenLink.

What Is OpenLink (OLINK)? Complete Guide Review About OpenLink.

What Is OpenLink (OLINK)?

OpenLink is like a transit box. The connection and verification between the blockchain and specific data in the real world are processed through this box. It provides reliable data sources for applications on the blockchain and ensures the normal operation of the blockchain. The decentralized ledger and smart contract of blockchain solve the trust problem of P2P interaction in today’s society without trust endorsement by any centralized institution, which is a major innovation in the trust system of human society. The emergence of Oracle aims to solve the above problems for blockchain. As a gateway for smart contract to communicate with the outside world, Oracle opens a window to the outside world for blockchain

Smart contract is one of the most important features of blockchain technology, and it is also the reason why blockchain is called subversive technology. It is increasing the productivity of our social structure. However, due to the special underlying consensus protocol of blockchain, the current smart contract cannot actively obtain information outside the chain, so it can only perform tasks in a closed and isolated environment and can not interconnect with the outside world.

OpenLink Storage Key Points

Coin BasicInformation
Coin NameOpenLink
Short NameOLINK
Circulating Supply1,165,002.85 OLINK
Total Supply20,200,114
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

What is a oracles

The function of the Oracle is to write external information into the blockchain and complete the data exchange between the blockchain and the real world. It allows the determined smart contract to respond to the uncertain external world. It is the only way for the smart contract to interact with the external data, and it is also the interface between the blockchain and the real world.

The nodes in the Oracle network may have problems, so a scheme is needed to reduce the impact of the problem nodes. The simplest method is on chain aggregation, that is, the data returned by the aggregation oracle. This method has many advantages. Because the code of OpenLink is open source and any behavior of OpenLink is disclosed on the chain, it is highly trusted for users.

What is OpenLink?

OpenLink call data requests initiated by smart contracts request contracts. The interface between Link and the request contract is an on chain contract. Link has an online module, aggregation contract. Users can choose their own nodes and services. The aggregation contract will collect the data returned by the Oracle, aggregate the data, and calculate the final required results. The off chain architecture of Link is the Oracle node network.

These nodes respectively obtain the data under the chain and send it to the aggregation contract to get the final result. The following describes in detail how to aggregate multiple returned results into a single data. Link’s node software is open source, which includes standard blockchain interaction, scheduling and connecting common offline resources.

Why does blockchain need oracles?

Blockchain is a deterministic and closed system environment. At present, blockchain can only obtain the data in the chain, but not the real world data outside the chain. Blockchain is separated from the real world. Generally, the execution of smart contracts requires triggering conditions. When the triggering conditions of smart contracts are external information (outside the chain), a Oracle must be required to provide data services.

OpenLink Real world data can be input into the blockchain through the Oracle, because smart contracts do not support external requests. Blockchain is a deterministic environment, which does not allow uncertain things or factors. Smart contracts must have consistent results whenever and wherever they run. Therefore, virtual machines (VMS) cannot allow smart contracts to have network calls, otherwise the results are uncertain.

Data sources

OpenLink can obtain data from multiple different data sources to reduce the impact of abnormal data sources on the results. The aggregate function can aggregate multiple returned results into a single answer. There are many schemes to complete data aggregation, such as weighted average after removing abnormal data.

Nile
Nile
Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .