Difference between revisions of "Provable Things"
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=== Other Details === | === Other Details === | ||
== Oracle Method == | |||
* [[Centralized]] oracles. [https://andrecronje.medium.com/oracle-evolution-ab7ce23da15b From] [[Andre Cronje]] (6-1-2023): | |||
== Oracle Method | ''"[[On Chain|On-chain]] request, [[Off Chain|off-chain]] provider; example Oraclize'' | ||
* [[Centralized]] oracles | |||
# ''User initiates on-chain [[Transaction (Tx)|transaction]] (deposit/withdraw/buy/sell/liquidate/etc.) to [[Smart Contract (SC)|smart contract]]'' | |||
# ''Smart contract submits HTTP request on-chain to oracle smart contract'' | |||
# ''Off-chain centralized service picks up the HTTP request event and parses the HTTP request off-chain, receiving data'' | |||
# ''Centralized approved service writes the received data back on-chain to the smart contract (the smart contract can optionally callback the initiating smart contract)"'' | |||
== Their Other Projects == | == Their Other Projects == | ||
== Roadmap == | == Roadmap == | ||
* Can be found [Insert link here]. | * Can be found [Insert link here]. | ||
== Usage == | == Usage == | ||
* From their [https://provable.xyz/ website] (16-8-2020): | * From their [https://provable.xyz/ website] (16-8-2020): | ||
Line 68: | Line 64: | ||
== Competition == | == Competition == | ||
== Pros and Cons == | == Pros and Cons == | ||
=== Pros === | === Pros === | ||
== Team, | * Can source arbitrary oracle data | ||
* Data only provided on request (no unnecessary data storage or [[gas]] fees) | |||
=== Cons === | |||
* [[Centralized]] service | |||
* Response [[asynchronous]] delay (app responsiveness) | |||
* Cost (need to pay for initiation transaction and gas fees for callback) | |||
== Team, Funding and partners == | |||
=== Team === | === Team === | ||
* [[Thomas Bertani]]; founder | * [[Thomas Bertani]]; founder |
Latest revision as of 05:54, 10 February 2023
Basics
"Provable Things announced Thursday it had successfully launched pTokens – 1:1 proxies for cryptocurrencies on other blockchains – onto the Ethereum mainnet, and that they would be fully interoperable with bitcoin (BTC) through the Bancor and Kyber integrations."
- Data carrier for decentralized app
- A connection between blockchains and Web API’s
- Has been in use on blockchain mainnets as a “leading oracle service” for smart contracts and blockchain applications since 2015, processing more than a million requests to date, according to its website. However its degree of decentralization has been in question.
- From this extensive post on oracles (15-1-2019):
"Oraclize is a London-based cybersecurity company with a team of 9 people offering a centralised solution to blockchain oracles. They have the longest actively running and the world’s most widely adopted blockchain oracle service. While it is available on multiple blockchain platforms (Bitcoin, Ethereum, Monax, Rootstock, Corda and private networks), the majority of their customers are working on Ethereum."
History
- Fka Oraclize
Token
Launch
Token allocation
Utility
Token Details
"Provable Things founder Thomas Bertani said cross-chain interoperability was the "missing link" needed to take DeFi to the next stage of adoption. pTokens, he added, would enable "liquidity [to] flow instantly and fluidly between different blockchains." Users holding value on bitcoin can now mint pBTC tokens on the ERC777 standard
Similar integrations with the Litecoin and EOS blockchains have already been successfully tested. Support for Litecoin should come online within the next few weeks, a Provable Things spokesperson said."
Stablecoin
Tech
- Docs can be found here (28-8-2019).
- Code can be viewed here (16-8-2020).
- Built on: platform agnostic
- Programming language used:
Transaction Details
How it works
- Open source but centralized.
- Using Intel SGX technology.
Different Implementations
Interoperability
- Is integrated (16-8-2020) with Ethereum (mainnet), EOS (mainnet), R3 Corda, Hyperledger Fabric
Other Details
Oracle Method
- Centralized oracles. From Andre Cronje (6-1-2023):
"On-chain request, off-chain provider; example Oraclize
- User initiates on-chain transaction (deposit/withdraw/buy/sell/liquidate/etc.) to smart contract
- Smart contract submits HTTP request on-chain to oracle smart contract
- Off-chain centralized service picks up the HTTP request event and parses the HTTP request off-chain, receiving data
- Centralized approved service writes the received data back on-chain to the smart contract (the smart contract can optionally callback the initiating smart contract)"
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
- From their website (16-8-2020):
"In production on blockchain mainnets since 2015. We have processed more than 1 millions requests to date."
Integrations
- Plotus has its oracle integrated (10-8-2020).
- Etherisc; is using it (22-9-2020) for its Flight insurance (together with Band and Chainlink)
Competition
Pros and Cons
Pros
- Can source arbitrary oracle data
- Data only provided on request (no unnecessary data storage or gas fees)
Cons
- Centralized service
- Response asynchronous delay (app responsiveness)
- Cost (need to pay for initiation transaction and gas fees for callback)
Team, Funding and partners
Team
- Thomas Bertani; founder
Funding
- Poseidon Group acquired it in 5-2019, which also owns Eidoo.
Partnerships
- Partner with Eidoo (which it created PNT with) and Rootstok.
- The company plans to interoperate with decentralized oracle systems, starting with Chainlink.
- Is mentioned by Oasis Network as of its partners (30-12-2020).