Digitalization of assets into mainstream ADAMoracle helps NFT and reality dynamic mapping

In 2021, the continued popularity of NFTs is something that most people did not expect. Some artists, celebrities and even corporate organizations have begun to show their NFTs, which seems to make NFTs more popular and completely different from other crypto market applications. The “high cold” and “niche”.

With its unique value attributes, NFT provides a more reliable and convenient way to confirm rights for many creators. Real-world literary works, game equipment, original music, etc. can all be published on the chain, anchored through NFT, clearly Ownership of users’ digital assets has been improved.

Simply put, just like in traditional games, players need to consume various props and equipment during the game. Since these game assets are controlled by the game company, the player does not have ownership but only has the right to use it. That is, keep with your own game account.

If the account is lost and cannot be retrieved, or the game is closed and no service is provided, the assets purchased by the player in the game will disappear immediately. The emergence of NFT allows game assets to belong to players. Game characters or equipment are all determined by NFT. Aside from the game itself, NFTs owned by game players can still be traded in the market and exist in the form of digital assets.

As a large number of NFTs are minted and transactions in the market unfold, issues such as how to store and process NFT data have become increasingly prominent.

HwKsr91oYzPqbeWMoLaHop2ApiqlpweJvCvtpJEK.jpeg

NFT data needs decentralized storage to avoid risks

NFTs are usually created by quoting metadata, and metadata includes various content details represented by the token, such as the name and description of the NFT, and the color, shape, sound, etc. quoted from the original NFT asset itself. Generally speaking Because of the limited space on the chain, NFT metadata often uses the off-chain storage scheme.

In short, after users own NFT, although the token itself exists on the blockchain, the large-capacity and cumbersome data files such as pictures and videos related to it are due to chain congestion and high cost. , Adopting an off-chain centralized storage method.

A decentralized NFT token using a centralized storage solution is undoubtedly contrary to the basic logic of the encryption industry, and this off-chain storage method is extremely risky, and NFT loss events occur from time to time.

Just this year, the musician 3LAU sold an NFT music album on the NiftyGateway platform. It was indexed by HTTP URL and placed on a centralized server. The centralized server cleared the data, and the NFT disappeared. Although a copy of this $11 million album can be found on NiftyGateway, 3LAU has lost this NFT asset.

In this regard, the industry has targeted NFT’s data storage solutions toward decentralized storage, making NFT metadata storage more compatible with ownership storage.

sBZUcg8QDPiLtPxjouVeCxlb62pFNrzhDbjc6d3V.jpeg

Related persons of the well-known decentralized storage project Filecoin once proposed to use Finecoin to fix the NFT data to the IPFS protocol for content hash storage to ensure that the file content can be obtained and used anytime and anywhere.

It is reported that in October this year, Filecoin has established a storage partnership with the NFT public chain Flow. Filecoin’s decentralized storage solution based on Flow applications can use simple methods to protect NFT media assets and metadata. Different from the unstable behavior of traditional centralized storage service providers, Filecoin’s storage persistence and the provider’s redundant storage and accessibility options combine to form an elastic system that can ensure that users’ NFTs remain safe.

Decentralized storage systems like Filecoin are expected to become mainstream solutions for NFT storage in the future, but the current product technology and scale are still in their infancy. With the development of NFTs, it remains to be seen whether there are more perfect storage solutions.

The oracle allows the dynamic linkage of NFT and real assets

Putting aside the storage problem, we can still find some other development bottlenecks faced by NFT. From the current hot NFT projects, it can be seen that most of the existing NFT assets are virtual assets in the game, and the number of mapped assets in the real world is quite scarce.

The properties and values ​​of most objects in the real world are different. The characteristics of NFT can perfectly adapt to this situation, realize the tokenization of different objects in the digital world, and endow tangible or intangible assets in various fields. Digital value.

In the process of NFT mapping real assets, when the trigger condition of the smart contract is off-chain information, a trustworthy interaction channel must be established, and real-world data will need to be input to the blockchain through an oracle to complete the zone. Blockchain interacts with real-world data.

In order to avoid the awkward situation similar to NFT metadata being placed in centralized storage, NFT calls for real asset data to adopt a more secure and reliable decentralized oracle solution.

As a decentralized oracle machine, ADAMoracle ensures the safety of data flow and use to the greatest extent. To this end, ADAMoracle created a pioneering core mechanism in the industry-using a wide-area node network to feed prices. Generally speaking, the instability of data sources and price-feeding nodes is a prominent risk of the oracle during the smart contract price feeding process of the oracle, and the wide-area node mechanism just solves this problem.

ADAMoracle oracle machine not only has distributed data sources and massive diversified server nodes, but also adds data aggregation function to the data feeding service process, which not only greatly increases the cost of oracle network attacks, but also effectively eliminates abnormal data, ensuring Under the premise of safe and accurate data transmission, it can meet the larger data needs, and can quickly and conveniently import real asset data such as real estate, land, artwork, and certificates.

4JsSwd09XAefGdecbFl7oqGoWz8c1aBH77aWAWFJ.jpeg

The value of NFT assets is not static, and often involves the need to refer to the real-world information of the item.

Taking the art NFT circulated around the world as an example, you can use the ADAMoracle oracle machine to connect to trusted APIs off the chain to aggregate multiple data sources to obtain the historical price of the art, price trend information, and the holding status of the accompanying art Realistic information and data such as transaction details, off-chain auction details, industry attention, etc., provide reliable valuations for NFT assets on the chain.

In addition to the NFT cast on the chain of real estate, there are some dynamic NFTs that can be cast based on real events.

The dynamic NFT can be dynamically updated according to changes in the real world. For example, the dynamic NFT released by NBA player Ramello Ball is closely related to his performance data in the NBA. This can be based on ADAMoracle to establish a dynamic link to the data. , Integrating dynamic data input and off-chain calculations, and interacting with the actual game situation on the chain. Whenever there is a change in various data in an NBA game, the NFT associated with the corresponding data will be updated in real time.

The digitalization of assets is an inevitable development trend. As an important link between the direct connection and perception of the current blockchain and valuable physical objects, the use of NFT to issue assets on the chain can achieve more convenient circulation of assets.

Infrastructure tools such as Filecoin and ADAMoracle can better assist in data storage, circulation, and use in the blockchain world, and provide users and NFT projects with accessible, scalable, and readable reliable data sources , To build a bridge for the integration of real-world assets and encryption and digitization.

This not only allows us to see the transaction value of NFT itself, it will also evolve into more new forms in the future, breeding more NFT applications, and this application value will enable the NFT industry to go further.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/digitalization-of-assets-into-mainstream-adamoracle-helps-nft-and-reality-dynamic-mapping/
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.