OpenOracle System
Open Oracle is a framework that allows developers to request any API from web2, directly onchain for their web3 apps. This tool enables real-time data requests, any API and data to be used, and can be used on any EVM network. Open Oracle has been designed to make it easier for developers to build decentralized applications that can interact with the real world, thereby bridging the gap between web2 and web3.
Web2
Web2 API Gateway acts as a mediator between the client and server, while RWA (Real-World Assets) refers to tokenized representations of physical assets, and "Others" encompasses additional API services for data exchange and integration.
Price
Crypto, Gold, and other assets represent diverse forms of value, with crypto being a digital currency and Gold being a tangible, precious metal, each serving different purposes in investment and financial ecosystems.
API
Service and Custom API work together to provide tailored solutions, with the service offering functionality and the Custom API enabling flexible integration to meet specific business needs.
OpenOracle
Data
Data from Web2 off-chain can be fully received and sent to smart contracts, enabling the information to be utilized in blockchain operations.
Contract
On-chain smart contracts, which reside on the blockchain, are transparent, auditable, and secure for handling and utilizing data.
Node
The node receives protocol data to verify and send accurate information to the on-chain network, enabling independent development of dApps.
Layer 1
Layer 1 networks like Ethereum, BNB, and others provide the foundational blockchain infrastructure for decentralized applications, enabling secure transactions and smart contract execution.
Layer 2
Layer 2 solutions like Optimism OP-Stack, Base, and others enhance blockchain scalability and transaction speed by processing transactions off-chain while leveraging the security of Layer 1 networks.
Layer 3
Layer 3 custom solutions build on Layer 2 technologies to offer specialized features and optimizations tailored to specific applications, enhancing scalability, performance, and user experience.