ODIN is a decentralized system designed to build a data oracle network based on an open protocol for interaction between participants and a sustainable economy.
In addition to organizing the data oracle network, ODIN is building a decentralized peer-to-peer data sharing and trading ecosystem for delivering real-world data onchain for various use cases including
- #DeFi
- Betting
- Prediction apps
- #NFTs
ODIN servers multiple use cases:
1. Streaming of anonymized user-generated data 2. DeFi applications need to be fed with real-world data 3. Betting dapps can be fed with data 4. Dynamic NFT
Lets explain them one by one 👇
1. Streaming of anonymized user-generated data
Such as location, health, consumption, mobile data & others from off-chain applications to on-chain smart contracts.
2. DeFi applications need to be fed with real-world data
Such as off-chain trading platforms, prices, forecasts, statistics, and various analytics.
3. Betting dapps can be fed with data
From the real world to bring more decentralization & fairness to the betting sector.
Recently, the ODIN team added $GEO to Osmosis (@osmosiszone $OSMO), allowing people to not only feed data and get rewarded, but also trade these rewards!
It's gonna be excited to see how both the $ODIN and $GEO token will evolve from here...
➡️ Kujira has $KUJI, Terra has $LUNA $LUNC
➡️ Kujira has $USK, Terra has $UST $USTC
➡️ Kujira has ORCA, Terra has Anchor
➡️ Kujira is building a wallet, Terra has Terra Station
You get the idea...
If not for the similar ecosystems, Kujira even originates from the Terra blockchain.
With the meltdown of $LUNA and $UST though, Kujira moved on to build their own layer 1 protocol based on #Cosmos.
Secret Network is "the first blockchain with data privacy by default for every dapp - 100x'ing the possibilities for #DeFi, #NFTs, .."
Crypto is becoming a bigger and bigger part of our financial lives, and with that everything is stored visibly on the blockchain.
This means that privacy is going to play an important role, so that crypto users have a choice to keep their transaction history and wallet balances to themselves.
"But I have nothing to hide".
Classic example of any free person's famous last words.
"The metaverse is a concept of a persistent, online, 3D universe that combines multiple different virtual spaces."
Will repeat that last part: "MULTIPLE different virtual spaces."
Second off, what is IBC?
The Inter-Blockchain Communication protocol (IBC) is a reliable & secure interoperability protocol that handles transport, authentication, and ordering of data across different sovereign blockchains.
IBC is also referred to as "TCP/IP for blockchains".
The blockchains that you know and love have a pretty rigid structure.
As a developer, this gives you two options: 1) build applications inside a restrictive environment or 2) fork the code and make your own chain.
Tendermint: Create a chain
Creating your own chain isn’t so easy.
Tendermint is open-source software for launching blockchains that allow you to write applications in any language. Better yet, they can communicate with other blockchain using IBC.
Why do you love $ATOM, IBC and the Cosmos ecosystem?
Here are the top 3 reasons we cannot get enough of Cosmos.
👇
1/
Embrace all tribes, no salty vibes.
It's extremely counterproductive how communities split up in tribes defined by which blockchain you support, especially when blockchains are supposed to be open and transparent.
Cosmos encourages new chains, and shares their success.
2/
Group effort, no cult leader.
No Vilatik $ETH
No CZ $BNB
No Justin $TRX
No Charles $ADA
No Gavin $DOT
No Alex $CEL
Sure Cosmos is founded by Jae and Ethan, but they are not put on a God-like pedestal. Others have picked up and taken the tech to new heights.