Ok ok ok, I know most of the replies here will say “yes hodl” but I am fairly torn, although I do believe it can easily 3x in a relatively short time period but also feel like it’ll be back at the 2.5-3k range after this cycle… I like ETH long term, but don’t wanna…
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I was looking into ways to better understand crypto so I thought it would be a cool idea to create my own token, deploy it to the main net and even get it listed on an exchange (DEX of course). It was an easy decision for me to do this on the Binance Smart chain…
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Oracles, according to Cryptopedia, are protocols for smart contracts in the blockchain industry to interact with external data. Smart contracts are essentially computer programs that run within a blockchain and automate a set of transactions when certain conditions are met. Thus, smart contracts contribute to the complete decentralization of the blockchain industry by allowing transactions to take place automatically and without the intervention of a third party. As appealing as the concept of blockchain as a self-contained, permissionless, and trustless system is, it would have no real-world applications if there was no way to use external, off-chain data, which is where oracles come into play. According to a recent report, the blockchain industry has over 77 million active users, demonstrating the constant innovation in the space, even though it is only a decade old. Because oracles connect the blockchain world to the outside world, there is a need to keep up with the blockchain industry’s constant innovation. However, oracles have struggled with centralized control, as some protocols are controlled by a single entity and serve as the sole source of data for smart contracts. If blockchain technology is to achieve its primary goal of decentralization, oracle networks must also be decentralized to provide smart contracts with an increased level of security and transparency. The Importance Of Decentralized Protocols Like QED One of the significant issues with introducing oracles to the blockchain is that it contradicts the ethos of blockchain technology, which is trustlessness. One way to address this is to ensure that oracles connected to the blockchain are decentralized and not governed by a single entity. QED is a decentralized oracle protocol with a robust economic model that connects blockchains, smart contract platforms, and off-chain data resources. QED is a decentralized oracle that aims to achieve trustlessness by distributing data points among multiple entities and modeling the blockchain network. DelphiOracle, QED’s base software, is the most widely used protocol on WAX.io, the world’s most trusted blockchain ecosystem for NFTs, dApps, and video games. For more than four years, the Delphi oracle has served as a multi-party source of truth, providing smart contracts with real-time prices for asset pairings on the various blockchain networks. DelphiOracle has already proven itself in the blockchain industry, and QED is built on it. The purpose of introducing QED is to solve problems inherent in existing models of oracles and blockchain systems. Economic Model Of QED The economic model of QED distinguishes it from existing Oracle protocols because it focuses on both the technological and commercial sides, which are both important when it comes to delivering and aggregating real-world data for smart contracts. The following are some of the characteristics of the QED economic model: Recourse: QED is customer-centric because it protects users by providing a recourse mechanism. Clients would eventually be able to use the external collateral provided by QED to process loss restitution that may have occurred due to systemic risks. Accuracy: To maximize real-time accuracy, automated systematic and reliability scoring is implemented to phase out poor-performing articles by increasing allocation to more capital-efficient oracles. Decentralization: QED used distributed ledger technology as a mode of operation, promoting decentralization and eliminating the lingering issue of centralization in Oracle protocols. The native token “$QED” also serves as an economic constraint for QED. Final Thoughts QED is a breath of fresh air for Oracle protocols. It aspires to lead the next generation of Oracle protocols that provide services to smart contracts in a fully decentralized, transparent, and open manner. To make the most of its innovative economic model, QED intends to integrate with public blockchains. Furthermore, to promote scalability and interoperability, the QED protocol is also powered by the UX network. QED’s economic model was implemented to address issues with the commercial viability of existing Oracle protocols, and it would as a model for the next generation of Oracle protocols shortly.
Recently hired Reddit engineer Rahul has just revealed reddit's plan for community points. According to him, they will be rolled out sitewide: Your Karma points will soon be tokens Think community-based decisions, or forking subreddits in disagreements. And all of this without even losing your community points? It's like moving from fb to Twitter without…
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I have only had money to invest in crypto since April this year. I invested 90% into ETH and the next 10% in others. All I’ve known are high gas fees but I understand why, blockchain congestion which equates to high usage, people are using the network. I am long on ethereum. I understand and…
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Corporate-owned social media giant Facebook is getting ready to track you to the ends of the Metaverse and back — if you let them.
I was recently transferred ownership of a smart contract for a NFT project. Everything has been done. Artwork completed, etc. I have all of the metadata files, control of GitHub, etc. My question is, now that I have control of smart contract – is it possible for the former Owner to gain control of it…
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I remember a few years ago that for me making 2x in stocks was utterly difficult. And if I reached a 2x in a year, I would feel like a genius and would make me so proud. Nowadays, in the other hand, I’m too used to crypto volatily that making a 2x in stocks feels…
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