IPFS in oracle field? Reveal the ecological opportunities of ADAMoracle.
ADAMoracle — — IPFS in oracle field
Actually, ADAMoracle and IPFS have a lot in common. As a transmission protocol, IPFS aims to create a peer-to-peer (P2P) distributed file system, in which storage providers offer users their storage capacity. And ADAMoracle is a complete overall oracle solution, which provides data and tool services for DApp and smart contract developers. Therefore, the business models of both ADAMoracle and IPFS are to turn resources into practical services needed by ecological participants to obtain rewards.
In IPFS, the incentive mechanism is Filecoin, which can be obtained as rewards by participants (nodes) by contributing storage space and bandwidth.
However, the incentive layer of ADAMoracle is ADAM, which participants (nodes) can obtain not only by contributing storage space and bandwidth, but also by providing data demanders with services such as price feeds.
In addition, IPFS and the data transmission service of the ADAMoracle are both necessary foundations for building the Web3.0 era.
ADAM and Filecoin — — Economic incentive plan focusing on nodes
ADAM token distribution plan
It consists of seven parts with the total amount of ADAM issuance of 100 million:
1. 【Wide-area node mining】 (60%): 60 million, used for wide area node mining;
2. 【Community contributor rewards】(5%): 5 million, used for community contributor rewards;
3. 【Liquidity mining】(9%): 9 million, used for liquidity output and pledge mining;
4. 【Early Exchange】 (13%): 13 million, the early share will be released in 24 months in batches three months after ADAM list on the centralized exchange;
5. 【Initial circulation]】(3%): 3 million, used for the initial incentive mortgage of early nodes;
6. 【Community/market operations】 (5%): 5 million, used for community airdrops, market cooperation, team operations, etc.;
7. [Reserved by the team] (5%): 5 million.
Filecoin token distribution plan
It consists of four parts with the total amount of Filecoin issuance of 2 billion:
Nodes: 70% (1.4 billion pieces), released linearly through block rewards, and halved every 6 years;
Team: 15% (300 million pieces), as the R&D and operating expenses of the agreement laboratory team, which will be linearly released for 6 years;
Investors: 10% (200 million pieces), allocated to investors participating in private placements and public placements, and released linearly in 6–36 months;
Foundation: 5% (100 million pieces), as long-term community construction, network management and other expenses, linearly released in 6 years.
By comparison, it can be found that ADAM and Filecoin are both node-centric projects in the economic model, and the share of early investors is relatively low. Also, there is a longer lock-up period, which can effectively reduce the selling pressure in the early stage of the token issuance. However, there are also some differences. In terms of the number of tokens, the total amount of ADAM issuance is smaller, the team share is lower, and the initial circulation is extremely scarce.
So far, ADAM has officially issued coins and is strictly implemented in accordance with the token smart contract. According to the price trend of ADAM after the listing of DODO, the price of ADAM has been steadily rising by more than 20% despite the large fluctuations in the cryptocurrency market in the past three months. The advantages of this economic model are gradually emerging.
A practical network for the global market
Both IPFS and ADAMoracle are practical networks for the global market. IPFS is a distributed file storage system, in which file data is not stored in a centralized server, but in all eligible computers on the network. Meanwhile, IPFS regards HTTP as its opponent, and propaganda should be benchmarked with HTTP. Furthermore, HTTP (Hypertext Transfer Protocol) is the most commonly used transfer protocol currently. ADAMoracle provides an overall oracle solution for on-chain and off-chain data through a wide-area node network for global data demanders. ADAMoracle is benchmarking Chainlink, which is currently the only oracle project with a market value of more than tens of billions of dollars in the market.
ADAMoracle is not only the first decentralized oracle that supports wide-area node price feeds, but also the blockchain infrastructure service facility in building a web3.0. What’s more, it has distributed data sources and massive diversified server nodes, and the data aggregation function, which greatly increases the cost of oracle cyber attacks and effectively eliminates abnormal data, is also added to the data feeding service process. Under the premise of ensuring the safety and accuracy of transmitted data information, it can meet the data needs of a large number of institutions and smart contract developers, so that can promote the development of rich business forms such as lending, asset synthesis, and forecasting markets.
The purpose of ADAMoracle is to build a safe, credible, accurate, decentralized oracle network that prevents witch attacks, and can be self-maintained, so as to replaces traditional oracles with Tuling Intelligence and builds a distributed wide-area node oracle into Web3.0. network ecology.
Up to now, ADAMoracle nodes have spread throughout Asia, Europe, the Middle East, and the Americas. The computing of network power participating in the first phase of the wide area node event has reached 71,786 TIB, and the value of the network pledged amount of ADAM has exceeded 15 million dollars.
ADAMoracle application scenarios and ecological opportunities
Nearly all blockchain applications that need to interact with off-chain data need to use the oracle. Thus, the ADAMoracle has a wide range of practical application scenarios including, but not limited to ecentralized finance, games, random numbers and NFTs, off-chain payments, prediction market, supply chains, identity and authorization, etc. This is an emerging market valued over one trillion dollars.
Financial products provide people with various tools to maximize the value of currency through various methods such as hedging, speculation, interest income, and mortgage loans. Blockchain and smart contracts, which improve transparency, can guarantee the execution of financial products in accordance with the contract, and provide a tamper-proof monetary policy for assets on the chain. In the process of transforming financial products and currency tools to smart contracts, ADAMoracle plays a key role, especially in creating financial products based on market data such as foreign exchange rates, interest rates, asset prices, and indexes.
Games, random numbers and NFT
One of the biggest features of blockchain games is to generate rare game item tokens (mostly NFTs), since blockchain can objectively prove the scarcity of items. When these rare game items are published, it is necessary to ensure that no outsiders or game developers can manipulate them, so as to protect their value. By connecting to the ADAMoracle, an on-chain encryption certificate can be generated to ensure the safety and verifiability of game items and ensure their scarcity.
There are various of payment methods in the real world, so smart contracts need to be able to access to different types of payment systems to fully meet the needs of various users. ADAMoracle can output the data of the smart contract to the off-chain API and connect into various payment systems.
In the prediction market, users can bet on the outcome of an off-chain event. Because of nature of the blockchain prediction market, it is necessary to access to the off-chain data to determine the result. ADAMoracle provides a decentralized off-chain data source with tamper-proof modification, triggers the prediction market to settle, and pays to the winner. The prediction market can be connected to sports events, political elections, cryptocurrency development trends and price predictions.
The supply chain includes the entire process from raw material purchase to delivery to end users. ADAMoracle can connect supply chain smart contracts to web API, cloud network, GPS, temperature, speed, acceleration, humidity, brightness and other kinds of sensors. These data can be used to trigger payment and transmit data. What’s more, no party in the supply chain can tamper with the data. This framework will ensure an objective source of facts for all parties involved and will significantly reduce daily management expenditure.
Identity and authorization
Although the current smart contract blockchain users are innominate, users need to be able to prove their true identity on the blockchain in order to obtain the ability to resist witch attacks or certain permissions. User ID information is stored in traditional data infrastructure such as institutional databases and social media. These platforms can be connected to smart contract applications on the chain through the ADAMoracle to bind user ID information to the address on the chain, or to verify the ID of the user in the off-chain server. In this way, organizations can fully guarantee regulatory compliance, and meanwhile, obtain user ID authentication to improve security.
With the rapid development of the industry, the role of basic service facilities such as the ADAMoracle has become more and more important. Moreover, the demand for landing applications of DeFi, NFT, and Metaverse is urgent, which encourages developers to further accelerate the construction of basic service facilities. Both ADAMoracle and IPFS, which has broad application scenarios, are essential infrastructure service facilities for Web3.0. At present, Filecoin has a market size of tens of billions of dollars, and once exceeded 100 billion dollars in market value. ADAM is still in the early stage of development, however, which is a good time for capital deployment.