Oracles are programs that connect real world off-chain data to on-chain applications. A great example of this is Chainlink on the Ethereum Network. While Chainlink is blockchain agnostic, its native chain of Ethereum has recently had issues with scaling and high transaction fees. One of the strongest upcoming competitors to Ethereum is Cardano. Existing protocols that have been proven on Ethereum are migrating, and looking to replicate success on Cardano.
Meet:
Charli3 is the first decentralized oracle being built on Cardano. This allows Charli3 to have all the benefits of existing successful oracle protocols, while having the flexibility of a much more agile blockchain backbone.
System proven features of Charli3 include:
- Multi-oracle node consensus
- Forced node staking, utilizing the native token
- Multiple redundant oracle networks
- A trustless network of systems to prevent Sybil attacks
- Aggressive node reputation and validation
Additional attacks that Charli3 protects against include
- Breach of on-chain confidentiality
- Freeloading attacks
- Majority attacks
- Mirror attacks
As more and more projects begin to flock to the Cardano ecosystem, we anticipate that for their off chain data and API needs, they will “ask Charli3”.
There are plenty of decentralized oracles that are blockchain agnostic, why is Charli3 needed?
While many decentralized oracles are blockchain agnostic, there is still a lag and barrier to entry between oracles interacting with chains they are not native to. For example; Decentralized oracle X has an excellent network on Ethereum’s blockchain, and interacts with Ethereum based projects. However, when trying to interact with Cardano, there is an additional barrier to both integration and adoption.
Charli3 finds a niche within the Cardano ecosystem. By being native to Cardano’s blockchain, it will have the lowest barrier to entry for functioning as the standard decentralized oracle of all Cardano based projects. The added benefit of being on Cardano’s blockchain includes agility of the network, and being in a low transaction fee environment. While these advantages may seem subtle, the growth of any decentralized oracle relies on it’s adoption. Charli3 will be the clear choice for any project building on the Cardano Blockchain.
Roadmap
Q2 2021:
- ERC-20 Launch/IDO
- Bootstrap Marketing Campaign
- Ethereum TGE
- Prepare ADA based Test Net
Q3 2021:
- dAPI Inspired Hackathon Event
- Leverage launchpad network for Cardano integration partners
- Expand network of external adapters
- Migrate to ADA
- ADA code audit
Q4 2021:
- Solidify niche in the Cardano ecosystem
- Node validation
- Expand technical capabilities to include node staking
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