FriendlyMarket Partnership With DotOracle Network

Published on: 30.05.2022

FriendlyMarket Partnership with DotOracle Network. This collaboration comes in an effort to help bridge DeFi on to the Casper Network.

DotOracle is a real-time decentralized Oracle and Cross-chain bridge supported by 8 chains. It is currently the first cross-chain bridge on Casper Network.

The partnership with Friendly Market is significant to DotOracle project. They will provide price feeds and liquidity bridge services to Friendly Market. Together they would expand the ecosystem of Casper Network in DeFi, NFTs and prediction markets on Casper.

To help secure the bridge, Friendly Market will run a validator node on the DotOracle network.

About DotOracle

DotOracle a real-time decentralized Oracle and Cross-chain bridge supported by 8 chains: Polkadot, Ethereum, Binance Smart Chain, Fantom, Polygon, Avalanche, Tomochain, and Casper Network. It is currently the first cross-chain bridge on Casper Network and aims to supports the Avalanche subnet.

DotOracle adds Oracle Data Layer to the layered architecture of the system. The following shows the layered architecture of DotOracle blockchain

Network & Consensus Layer: This layer is responsible for communication between validators of the network.

Oracle Data Layer: This added layer is used for storing all off-chain data (external information) that is needed for transactions that would interact with smart contracts using off-chain data.

For example, for an oracle on Ethereum that provides the ETH/USD pair price data. Applications use the price data for this pair by reading from an on-chain smart contract where the price data is updated every 15 seconds.

Oracle & smart contract layer: This layer contains all smart contracts deployed by developers for developing a DeFi application or an oracle that provides tamper-proof data.

Application layer: This layer contains all application smart contracts that interact with any user.

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