Plugin, a decentralized oracles system, sets a new standard for XinFin XDC Network with its secure and reliable data streams
Plugin introduces scalable decentralized oracle infrastructure for XinFin XDC Network
Plugin, a decentralized oracle instrument on high-performance Ethereum (ETH) fork XinFin XDC Network, is designed to address major bottlenecks of centralized oracle systems in crypto.
Technically, centralized oracles rely on single points of failure while broadcasting data to external smart contracts. This way of operations may advance the speed of connection, but it makes the entire system prone to corruption and assaults.
Unlike centralized oracle systems, Plugin (PLI) harnesses non-custodial smart contracts architecture: data integrity proofs with cryptographic signatures, data validation modules protected by multi-layer aggregation.
Also, they are backed by crypto-economic guarantees and can use additional decentralized mechanisms such as zero-knowledge proofs (zk-proofs) and so on.
This design allows Plugin’s decentralized oracles to empower complicated business development systems in a resource-efficient low-cost way. For instance, they can aggregate data from multiple sources with zero latency, bridging on-chain and off-chain ecosystems.
Listing campaign for PLI token is underway
Apart from all sorts of DeFi protocols, Plugin’s (PLI) solutions can be easily integrated into the protocols that track asset prices, sports statistics, shipping statistics, meteorological data, etc.
Plugin released a native utility and governance token on XinFin XDC Network under the PLI ticker. Currently, it is available on major centralized crypto exchanges such as Liquid, Bitrue, and HitBTC. As per the statement of its team, many more DEXes and CEXes will be added to this list in coming months.
As covered by U.Today previously, XinFin XDC Network is a novel smart contracts platform for decentralized applications. Technically, it leverages a hybrid EVM-compatible Proof-of-stake (PoS) consensus that allows it to accomplish impressive TPS levels.