Zap Protocol launches $ZAP Oracle Network on BSC Testnet!

Binance Smart Chain Public Testnet

Zap is pleased to announce the launch of the much anticipated Zap Oracle Network on Binance Smart Chain Public Testnet! Users are able to deposit testnet tokens and set up a Node Validator while on the Binance Smart Chain Testnet. With this initial launch on testnet, they will increasingly refine the network and user interface based on community feedback. They are planning to launch the mainnet oracles with an array of oracle price and data feeds later this quarter once smart contracts are fully audited. Documentation and guides are releasing throughout the next week.

Zap Oracle Price Feed

The Zap Oracle Price Feed offers a sleek front-end that displays up to date price data from Node Validators on the network. The most popular trading pairs take priority via a ranking system. Users are able to request additional feeds from the validator network. The initial launch of oracles are live on Binance Smart Chain Testnet only.

Zap Mining Events

Miners create an oracle system where parties can request the value of an off-chain data point and miners compete to add this value to an on-chain data-bank, accessible by all DApps on Binance Smart Chain. The inputs to this data-bank are secured by a network of staked miners. The Zap Protocol utilizes crypto-economic incentive mechanisms, rewarding honest data submissions by miners and punishing bad actors, through the issuance of Zap’s governance token, ZAP, and a dispute mechanism.

About Zap Protocol

Zap Protocol provides critical infrastructure built to power the next wave of decentralized applications. Users can swap tokens, earn rewards by validating Oracle data feeds, mint NFTs, and raise funds with customizable bonding curves on our platform.

📰 INFO

https://medium.com/the-zap-project/binance-smart-chain-public-testnet-1965874ff72d