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How will oracles iterate? The dark horse SEOR tells you the answer

Published

3 years ago

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After the boom of DeFi Summer in 2020, on-chain DAPPs have been fully developed in terms of their types and uses. Although KYC is not required for DeFi, it is a rigid need to use oracles to communicate transaction data because of its core transaction function. In terms of NFT, although there are various types of on-chain native products, since part NFT products are mapped to the chain through traditional assets, this also involves data interaction.

The Demand for More and More Diversified Data

In terms of the development of the traditional financial industry, the use of information other than transaction data in financial derivatives is increasing, such as the weather futures based on weather conditions, carbon emissions futures based on carbon emissions, etc.. DeFi is built on the basis of replicating traditional finance, and inevitably will copy other more diverse derivatives in traditional finance in the future. This will certainly make DeFi use of on-chain data and off-chain data become an immediate need.

The trend of NFT is more obvious. Whether it is a collection of NFT products, or content in the metaverse, it is also starting to be more or less linked to real assets or IP. Future identity information, credit information, etc., may also exist in the form of NFT. Frequent interaction between NFT and off-chain data in the future is likely to be the general trend.

Predicaments of Existing Oracles

However, functions of extant oracles seemingly can hardly cope with such rich usage scenarios and diversified demands. 

First of all, almost all of the current functions available in oracles are focused on on-chain information. There are very few oracles that are capable of interacting with off-chain information.

Second, the resulting problem is that the oracles on the blockchain are not designed to interact with the Internet and other data, leading to single operation modes.

Third, what is even more unacceptable is that the current oracles can not juggle the information flow between layer 1 and layer 2. 

Fourth, since many oracles are designed earlier, developers did not consider integrating it into DEFI or NFT, which incurs a larger cost of use to DAPP developers. 

Fifth, most oracles support a limited number of public chains. Many people anticipate that the future will witness the arrival of multiple public chains, and it is obvious that the current oracle products are not prepared for this. 

Finally, the rewards and penalty mechanisms of oracles for information authentication and falsification are not well developed. 

In response to these problems, SEOR Network proposes a new oracle solution that will represent an important cornerstone of a pluralistic blockchain world.

SEOR’s Innovations

First of all, SEOR Network supports both on-chain and off-chain data. At the same time, in order to let the off-chain data better serve the various DAPPs on the chain, SEOR Network is designed to provide three modes of request/response, subscription/broadcast, and immediate reading, which basically covers the main data interaction modes at our current stage. This relatively full range of data interaction modes also makes it convenient for Internet companies and traditional industries to integrate the functions of SEOR Network into their applications. In addition, SEOR Network also supports multi-chain or cross-chain DAPP, providing a one-stop service for applications that deploy on both Layer 1 and Layer 2.

SEOR Network relies on two core functions to ensure data accuracy. First, the first method is to use a multi-node validation model that does not rely on centralized nodes. The accuracy of the data is based on the data provided by the majority of nodes. Some people may worry that if a large number of nodes “copy” each other’s data, the accuracy cannot be guaranteed. In order to avoid this problem, SEOR Network has designed a “submit-reveal” mechanism that regulates that when multiple nodes obtain external data, their data transmission is encrypted and the nodes do not see each other’s data. Second, all the data transmitted at the same time will be decrypted, during which step we can verify which data has been accessed by most of the nodes. Both approaches ensure the data accuracy of the data and avoid malicious node practices.

More Upcoming Events

Follow SEOR Twitter: https://twitter.com/SEOR001

Retweet, like, tag three friends with the hashtag #LetsTrySEOR #SEOR

Join the SEOR community: https://t.me/SeorGroup and are actively involved.

About Author

Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

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Press Release

UVKXE Releases Anti-Scam Guide, Enhancing User Security Protections

Published

6 hours ago

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November 23, 2024

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DENVER — Recently, the globally renowned cryptocurrency trading platform UVKXE has published its latest anti-scam guide to address the escalating threats of online scams, establishing a comprehensive protective barrier for users worldwide. The guide focuses on various scamming tactics prevalent in the cryptocurrency sector, highlighting what users should be aware of during transactions and asset management, while also providing effective preventive measures.

Kevin Anderson, CEO of UVKXE, noted: “As the cryptocurrency market continues to expand, more cybercriminals are turning their attention to cryptocurrency users, developing sophisticated scam techniques. As a well-known platform in the cryptocurrency trading field, UVKXE has a responsibility to help users identify and mitigate these potential risks. Through the release of this anti-scam guide, we aim to further enhance user awareness and safeguard their digital asset security.”

The guide outlines the common characteristics of these scams, such as phishing emails that typically use UVKXE or similar official-sounding names, along with forged logos and links, to deceive users into providing their login credentials and sensitive information. It also advises users to always choose official channels when downloading applications to avoid malicious software. Furthermore, UVKXE emphasizes that the platform will never proactively request users to provide sensitive information such as passwords or verification codes in any form.

In addition to the anti-scam guide, UVKXE will launch a series of interactive activities, utilizing community forums and video tutorials to educate users about safety knowledge and help them recognize and respond to potential threats. The UVKXE security team stated that these activities will not only provide real-time updates on scams but also offer users opportunities for direct communication and inquiries.

The investment in technology and education is reflected not only in the publication of the anti-scam guide but also in daily operations and maintenance. Kevin Anderson concluded: “Every protective measure and security technology implemented by UVKXE is designed to ensure the safety of user assets. In the future, we will continue to advance this mission, providing users with safer and more convenient cryptocurrency trading services.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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Cloud PR Wire

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Press Release

UVKXE Clarification Statement: A Legally Compliant Trading Platform with International Accreditation

Published

6 hours ago

on

November 23, 2024

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DENVER — Recently, the Securities Commission Malaysia (SC) published a list on its official website of cryptocurrency trading platforms that have not met its local registration requirements, mentioning UVKXE. UVKXE takes this matter seriously and wishes to clarify its credentials and compliance status to its users.

Global Compliance Credentials of UVKXE

UVKXE is committed to operating under legal and compliant principles, upholding a user-first core value. The platform has obtained several certifications from international authoritative regulatory bodies, including but not limited to:

U.S. MSB License
UVKXE has obtained the MSB license issued by the U.S. FinCEN. This certification represents the highest recognition by the U.S. government for financial service institutions, ensuring that UVKXE can legally conduct cryptocurrency-related business.

U.S. SEC License
As one of the few cryptocurrency trading platforms registered with the U.S. Securities and Exchange Commission (SEC), UVKXE complies with securities and investment-related legal regulations, providing users with a safer and more transparent investment environment.

Background on the Malaysian Public List

The list published by the Securities Commission Malaysia mainly targets trading platforms that have not met local registration requirements, such as Binance and Bursa Malaysia, rather than denying the platform legality. UVKXE has obtained multiple authoritative licenses internationally, and its compliance is beyond doubt. UVKXE is in communication with relevant departments to understand local specific regulations and to advance the registration process, ensuring compliance with local market requirements.

Commitment to Legal Compliance and User-Centric Values

UVKXE will use this event as an opportunity to further enhance its global compliance framework, actively adapting to regulatory environments in various countries, and providing users with more professional and diversified financial services. We sincerely thank all users for their trust and support! UVKXE promises that no matter where it operates, the platform will always adhere to the core philosophy of “user-first”, moving together with global users towards a safer, more open, and transparent new era of the digital economy.

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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Press Release

UVKXE Strengthens Security Strategy, Leading Innovations in Anti-Scam Technology for Crypto Platforms

Published

6 hours ago

on

November 23, 2024

By

DENVER — Recently, the globally recognized cryptocurrency trading platform UVKXE officially announced the completion of its latest security system upgrade. This upgrade significantly enhances the cybersecurity defenses of the platform and introduces cutting-edge anti-scam technologies. Through this technological update, UVKXE demonstrates its commitment to user asset security and proactive measures against potential future cyber threats.

Kevin Anderson, CEO of UVKXE, stated: “User trust is the foundation of UVKXE, and ensuring the security of user assets is always our top priority. This security system upgrade incorporates AI deep learning, real-time risk control, and efficient anomaly detection algorithms, aiming to create a safe and trustworthy trading environment for users. We will continue to optimize the security measures for user assets, ensuring that every user can trade confidently on UVKXE.”

The focus of this security system upgrade is primarily on anti-scam technologies. In response to the ever-evolving online threats and scam tactics in recent years, UVKXE has strengthened its multi-layered protective mechanisms, effectively enhancing the security and responsiveness of the system. The upgrade introduces AI-driven anti-scam technology, which intelligently analyzes user behavior through deep learning algorithms, allowing for rapid identification and isolation of suspected scamming activities. The AI anti-scam system can monitor and analyze large volumes of trading data in real time, immediately freezing any suspicious transactions or account activities to safeguard user assets.

Kevin Anderson further explained: “Traditional anti-scam methods often rely on post-event analysis, whereas the new system of UVKXE can identify risks promptly before incidents occur, taking immediate action to prevent losses.”

In terms of anomaly detection, the system of UVKXE combines the transaction histories, asset conditions, login locations, and other multidimensional data of users to accurately pinpoint potential security vulnerabilities. Through anomaly detection technology, each user login and transaction can be monitored in real time, with timely alerts prompting users to confirm actions, further enhancing the security of the platform.

Kevin Anderson concluded: “We hope every user can enjoy a secure trading experience on UVKXE. By continually optimizing our security strategies, we aim to provide a safer and more convenient cryptocurrency trading experience for our users.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Cloud PR Wire

See author's posts

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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