At Goracle, we believe Blockchain Oracles are critical infrastructure that will accelerate the adoption of blockchain worldwide.We have assembled a world-class team dedicated to building a reliable, secure and high throughput
Blockchain Oracle to empower the next generation of blockchain applications.
Goracle aims to accelerate the development of dApps that are useful in the day to day lives of millions of users. Goracle will accomplish this by providing the infrastructure necessary for developers and organizations to build applications that make use of real world, off-chain data. Furthermore, Goracle will enable developers to build applications that utilize off-chain computation.
In 2022, the number of daily users for decentralized applications surpassed 2.4 million daily users, with several billion dollars in volume. Global uncertainty has lead to increased adoption of cryptocurrencies, especially in emerging markets. This increased adoption of cryptocurrencies has familiarized people with wallets and the mechanics of transacting on-chain. As the general population becomes more comfortable using decentralized applications, demand for oracles to provide real world data will see a similar rise.
Along with record numbers of new users, the blockchain space has also seen record number of hacks and exploits, many of these being through bridges/oracles hacks and manipulation. This highlights the need for security as a top priority for any oracle solution such as Goracle.
The primary goal of this litepaper is to highlight the organization and backers of Goracle, and to highlight compliance of the protocol. In addition, it will aim to provide a high level overview of the functioning mechanism of the oracle, and the types of feeds Goracle plans to launch with. This litepaper is accompanied by an in-depth economic design paper. Technical details of the network will be released in a future whitepaper closer to the launch date of the protocol.
The Goracle Vision
The Goracle vision is to deliver an Oracle solution that brings mainstream adoption to web3, and empower an ecosystem of decentralized applications to solve real-world user problems.
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Our mission is to advance the state-of-the-art in oracle and blockchain reliability, safety, and performance by providing a flexible and modular oracle architecture. This architecture should support frequent upgrades, fast adoption of the latest technology advancements, and first-class support for new and emerging use cases.
We envision a decentralized, secure, and scalable network governed and operated by the community that uses it. When infrastructure demands grow, the computational resources of the oracle network scale up horizontally and vertically to meet those needs. As new use cases and technological advances arise, the network should frequently and seamlessly upgrade without interrupting users. Infrastructure concerns should fade into the background, and security should be guaranteed without trading off privacy or decentralization.
To achieve this Goracle will:
- Hire and partner with highly skilled computer scientists, cryptographers, mathematicians and statisticians, data scientists and more
- Build a modular application that allows development and upgrades of specific modules
- Work with 2–3 audit firms to review Goracle’s Code
- Perform millions of simulations that model the trajectory of the token based on starting parameters
For the incentive testnet Goracle phase 1 has been completed, and since this article was written, phase 2 has started.
This is the display for the incentivized testnet phase 2
