ADAMoracle oracle helps Layer2 applications perform off-chain computing
Layer 2 is one of the promising development directions in the encryption industry. In the past year, this track has always been a battlefield for all parties to fight. The competition of various schemes emerging around the expansion of Ethereum and the respective teams of DeFi applications have made the popularity of this track enduring for a long time. .
Layer1 and Layer2
First of all, it should be clear that the concepts of Layer1 and Layer2 do not only refer to the Ethereum network, but the OSI model (Open System Interconnection Reference Model, that is, the Open System Interconnection Reference Model) that draws on the computer network communication architecture in the industry. The blockchain logical architecture is divided into three layers – Layer0, Layer1 and Layer2.
Among them, Layer is its most common interpretation – the meaning of “layer”. The so-called Layer1 and Layer2 are the first and second layers. Layer 0 corresponds to the underlying protocol of the OSI model, roughly including the physical layer, data link layer, network layer and transport layer. The first layer (Layer 1) roughly includes the data layer, the consensus layer and the incentive layer. The second layer (Layer 2) mainly includes the contract layer and the application layer.
Ethernet Square with Layer1 and Layer2 technical solutions, for example:
Layer 2, also known as off-chain scaling, corresponds to Layer 1 (on-chain scaling). On-chain scaling is to directly modify the block size, consensus mechanism, etc. on the blockchain. For example, the sharding technology of ETH 2.0 can improve the block generation efficiency of the network by modifying or optimizing the consensus network of the blockchain, thereby speeding up the block confirmation time and achieving the purpose of fast transaction chain; Under the premise that the functions of Layer 1 are simple enough, powerful and stable, some calculations and operations that were originally on Layer 1 will be done off-chain.
Since the upgrade progress of Ethereum 2.0 is difficult and the congestion on the chain is serious, more and more off-chain expansion schemes have emerged since 2018, namely the Layer 2 expansion scheme, which is similar to building a viaduct on a crowded road to relieve congestion. effect.
However, in addition to extending the performance, Layer 2 can transfer more and more complex requirements to the off-chain, so that some functions that cannot be realized on the mainnet can be extended off-chain.
Layer 2 applications are inseparable from oracles
If it is divided according to the “OSI model”, the oracle should be classified in Layer 0, which belongs to the data link layer and the transport layer. It itself is a bridge connecting the real world and the blockchain system, realizing the intercommunication of data and information between the two worlds, and is responsible for transmitting data and information off the chain to the chain. The popular Layer 2 projects in the current market, such as Synthetix, Polygon, Loopring, Aurora, etc., have basically chosen to access oracles, and it is particularly critical for developers on Layer 2 to securely and reliably connect off-chain data and resources.
Especially DeFi price data:
The lending market requires price data to issue loans and execute liquidations;
Algorithmic stablecoins require price data to stimulate rebase and rebalance to maintain pegs;
The synthetic asset protocol requires price data minting, swapping, redemption, and liquidation of synthetic asset positions.
However, price data reflecting the weighted average price across all exchanges does not exist natively on-chain. Therefore, developers need additional oracle infrastructure to obtain external data and pass it on-chain, which will then be adopted by their smart contracts.
ADAMoracle, as the first decentralized oracle that supports wide-area node price feeds, can provide smart contract developers with comprehensive tools and data, as well as a more secure and convenient oracle overall solution to promote lending, asset synthesis, and prediction markets. and other rich business development. In addition, ADAMoracle’s powerful anti-attack performance can effectively avoid market manipulators’ attacks; its powerful off-chain data information aggregation function can help Layer 2 applications perform off-chain calculations and reduce operating costs.
ADAMoracle oracle achieved its first leap after launching the wide-area node network. Its ecological token ADAM successfully exceeded 8 US dollars, and the total project pledge value was close to 20 million US dollars. In the future, ADAMoracle will also face the overall market and carry out long-term and all-round market expansion, including but not limited to the Layer2 ecosystem.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/adamoracle-oracle-helps-layer2-applications-perform-off-chain-computing/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.