Oracle Protocol is a fundamental contract layer for Oracle DAO to implement the DAO concept. By implementing the Oracle Protocol, Oracle DAO will establish a diversified industrial ecological interface with the DAO mechanism, and take the collective will of community members as the foundation and realize the value existence of the combination of virtual and real.
The Oracle Protocol will achieve cross-dimensional operability in a trustless environment, omitting the general data design structure and network protocols necessary for virtual-real interaction, and fill the gap between different industrial interfaces across the chain. Besides, to ensure the fairness and stability of the protocol and to reliably ad- dress the challenges of data communication in a trustless environment, the Oracle protocol constructs the system surrounding the following three core values:
It can be thought of as arithmetic mining，which means that proof of work (complex mathematical prob- lems) is decoded by consuming CPU, power and time and only the successful decoder can compete for new blocks and receive rewards.
It can be thought of as token mining, which means that whoever has more cryptocurrency (and whoever has more money) will have the ability to claim new blocks.
It can be thought of as token min- ing by pledging tokens to par- ticipate in the Oracle Protocol. And iteratively updated on the PoS mechanism to achieve low energy consumption, high efficiency and high operation.