The code of a blockchain application must be 100% deterministic. This is necessary in order for other nodes to verify the outcome of the code.
This means that there are some limitations on the functions that blockchain applications can perform. Blockchain code cannot:
- Generate random numbers
- Access information from the web or use web APIs
- Communicate with other blockchains
In order to perform these functions, an outside entity (known as an oracle) must request/generate the data needed, and embed it in the blockchain for the decentralized application to access. However, existing oracle implementations are centralized or expensive.
Moracle aims to solve these problems by offering an inexpensive, decentralized, and fast oracle service. Moracle will allow for connected and dynamic decentralized apps.
Decentralised data service
Anyone will be able to operate a Moracle node, and multiple nodes must agree on a query result before it is accepted by the network. The network will be fully distributed and decentralized, which allows for high availablity and trustless verification.
Dynamic and programmable queries
All transactions in the Moracle ecosystem will be paid for by the MRCL token. Node operators will be able to earn money by providing a reliable data provider, and blockchain app users will pay the node operators using MRCL tokens.
Lisk and beyond
Moracle will be built with the upcoming Lisk SDK, but will also implement support for both ILP and Cosmos’s IBC allowing for a diverse ecosystem of dApps to interact with the open internet.
Moracle will let Lisk apps get information from the open web. Applications could:
- Base calculations off of real-time crytocurrency exchange rates.
- Interact with banking APIs.
- Store data for proof-of-existence purposes, allowing for notary dApps.
- Access data from Ethereum and other external blockchains.
Want to know more about Moracle? check out their website: moracle.network