Orange Paper Ojo Network
Ojo Network : The Cosmos Futur Oracle?
A Main Oracle for Cosmos Ecosystem is needed!
For accurate price data.
In Real Time
Imagine you wake up one morning, and as you look out the window, you notice that the sky is a little darker than usual, and it seems like it might rain. You quickly remember that you have to head out soon, but you're not sure if you need to bring an umbrella or not. So, you decide to check the weather on your phone. You open a weather app, and within seconds, you have all the information you need. The app tells you that it will start raining in an hour, and you'll need an umbrella to stay dry. So, you grab your umbrella before you leave the house. Without even realizing it, you just experienced the use of an oracle in your daily life. An oracle is a digital system that automatically gathers and analyzes data from multiple sources, and then provides users with the resulting information to help them make informed decisions. In this case, the weather app was the oracle that provided you with accurate information about the weather and helped you make a decision about whether or not to bring an umbrella.
In the blockchain ecosystem, oracles are particularly important as they facilitate the transfer of information between the real world and blockchains, which is essential for many web3 applications in finance, social systems, and the data economy. However, oracles require trust between network participants and protocols and are an incredibly fragile part of the web3 ecosystem. Oracle failures or manipulation can lead to significant issues in web3 infrastructure. Therefore, accurate, reliable, and secure operation of oracles is crucial for the functioning of web3 protocols.
Ojo Network is a Cosmos-based oracle network designed to provide secure and reliable price data on a wide range of assets. As the data hub of the Cosmos Ecosystem, Ojo will also provide a wide range of custom-built data feeds to cater to the individual needs of its consumers, supporting the growing web3 data economy. Ojo Network 's main focus is on providing reliable and precise pricing feeds for the Cosmos Ecosystem as well as for the larger IBC-enabled crypto space.
As more and more developers are drawn to the Cosmos ecosystem for its open-source tools and potential, the demand for a decentralized and secure oracle network to support the growth of web3 applications in the Cosmos Ecosystem is becoming increasingly clear. This is where Ojo Network comes in - it has set out to become a leader in this area by fulfilling its main mission of providing a highly secure and accessible decentralized oracle network. Ojo Network aims to establish itself as a trusted and integral part of the Cosmos ecosystem, with the ultimate goal of becoming the leading oracle infrastructure in the space.