Stacking may not sound the most appealing way to earn crypto, but don’t worry it doesn’t evolve filling supermarket shelves, just adopting a similar methodical approach to earning cryptocurrency. Stacking sats is a common mantra within the community and done right it is a good passive way to build a portfolio with moderate risk. We… Continue reading Earning by Stacking
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Earning by Learning
The opportunities that focus on earning crypto simply by learning will be your starting point along the path of earning cryptocurrency, as though the returns are modest, you can earn your first Sats for no initial investment, very little risk and just a modest amount of effort. As important as earning your first crypto, you’ll… Continue reading Earning by Learning
Crypto economy: risk, reward and safety
To get the most out of this section you’ll need a basic understanding of Bitcoin and how it works. Read this chapter first if you need to get up to speed. Economic incentives are central to how cryptocurrencies can function without a central point of control. The novel use of incentives also extends to how… Continue reading Crypto economy: risk, reward and safety
What you`ll learn
What you’ll learn Why crypto uses incentives Learning, Staking & Speculating Risk vs Reward The importance of DYOR
Problems with Oracles
Chainlink is just one of many providers of decentralised oracles, each with a slightly different approach to solving the oracle problem. In truth, all solutions include some sort of compromise or vulnerability. The sheer complexity of Chainlink’s three-layered solution is an issue as it creates a broad attack surface for bad actors to find a… Continue reading Problems with Oracles
Decentralised Oracle Use Cases
Having established what a blockchain oracle is, how they function and the challenges they present, we can look at some practical examples to put all of this into perspective. DEFI (Decentralised Finance) DEFI has emerged as one of crypto’s most significant use cases, with the market capitalisation of the biggest DEFI coins touching over $170bn… Continue reading Decentralised Oracle Use Cases
Chainlink decentralised oracle
A truly Decentralised Oracle Network needs to combine multiple independent oracle node operators and multiple reliable data sources. Chainlink Price Feeds attempts to solve the issue of a single point of failure by ensuring decentralisation across the three layers of the oracle — the data source, node operator, and oracle network levels. BTC/USD Oracle Example… Continue reading Chainlink decentralised oracle
Which blockchain applications use Oracles?
One of the most popular decentralised oracles is Chainlink which we can use as an example to illustrate the way blockchain applications use oracles.
Trust and the Oracle Problem
Data feeds aren’t unique to blockchains; almost all centralised digital applications use API feeds but require some kind of trust-based authentication to confirm data validity. The most apparent way oracles could verify data would be to replicate the centralised approach to accessing data in the off-chain world, but this immediately challenges the decentralisation nature of… Continue reading Trust and the Oracle Problem
What are the Different Types of Blockchain Oracles?
Software oracles The most common kind of oracle is software that aggregates data already available on the internet and feeds it to a Smart Contract, such as price data for cryptocurrencies. Hardware Oracles Some blockchain-based applications need to reference data from the physical world, which can only come through a piece of hardware such as… Continue reading What are the Different Types of Blockchain Oracles?