Introducing ORAO - Overview
The oracle space has come a long way since Oraclize. And just as earlier decentralized oracle platforms have built on the first generation of centralized versions, so we have had the benefit of seeing what has worked well for current platforms and what pitfalls others have discovered for us to avoid.
Orao has taken from projects like Chainlink and DOS a reputation system that judges data providers on factors like the freshness of data provided, order completion rates, quick fulfillment of tasks, etc. But through the integration of Data Protocols we can also judge providers on data normalization, and through the harnessing of Machine Learning we are able to make our reputation system proactive rather than reactive. With other platforms, an attacker is able to build up a good reputation score, only to deliberately provide false data if they can somehow benefit more from their trickery than they stand to lose from having their staked tokens confiscated. ORAO's system however analyzes data as it comes in, and even seasoned data providers are not blindly trusted if the data they provide goes too much against recent outputs, by the same provider or by others.
ORAO also vastly expands the range of data that can be traded on the platform. There are by now a dozen oracles buyers can tap into for financial data. Bitcoin price feeds on chain have been with us for going on five years. But through ORAO's predefined Data Protocols data providers can sell anything from soccer game outcomes to weather data to information about movies from IMDB. Because of how we built our platform, new Data Protocols can be added as demand is identified by buyers and providers. For anything that you can reasonably nail down an objective, verifiable answer, ORAO can support a Data Protocol for it and create a market.
Lastly, ORAO is blockchain agnostic. It has been built for Polkadot, and so can support cross-chain interactions between anything from Ethereum to EOS to Zilliqa. Any compatible chain can be connected to ORAO as demand rises.