The Data Infrastructure for DeFi and Web 3.0 Powered by blockahin
Cyptobit Network offers any applications and blockchains instantaneous but reliable and valid on/off-chain market data and social data sources by leveraging the power of blockchain.
Cyptobit Network is an advanced decentralized data feeding protocol powered by blockchain offering multiple, real-time data sources with the complementarity and synergy to off-chain workers.
Data consumers may represent smart contracts, APIs, blockchains, protocols, applications or any data repository.
Data Warehouse in Cyptobit Protocol is a decentralised on-chain repository of integrated data from one or more disparate data sources such as Network Nodes and the Arbitration Nodes.
Nework Node handles all the data requests such as social data and market data from separate off-chain data sources, and signing the transactions of the Cyptobit parachain.
Arbitration Node guarantees the security and accuracy of external data by verifying the data integrity and the validity that network Node provided.
The bottom layer of Cyptobit Network is mainly built on a specialized blockchain network established by Bitindi Chain.
The Cyptobit Network Mainnet token $CBI is necessary to secure and power the decentralized data network. The use-cases and utility of $CBI include but not limited to:
All miners are required to stake $CBI with a higher stake equating in a high probability of being selected to fulfill data requests.
$CBI tokens will be used to pay as a transaction, query fee, and also for data access behind paywall (private APIs).
$CBI Token holders are able to vote for the protocol upgrades and parameter changes on Cyptobit Network.
Through the Cyptobit Network to obtain timely and reliable events outside the insured chain, blockchain-based decentralized insurance can realize automatic payment of insurance such as flight delay insurance.
Stablecoins and encrypted derivatives need to frequently obtain off-chain real-time price data. Cyptobit Network can obtain reliable data in multiple scenarios in real time and efficiently.
Cyptobit Network can provide real-time and reliable currency prices and borrower’s social media information, providing strong support for the dynamic determination of loan interest rates.
The lightweight Cyptobit Network interface that can be deployed on multiple chains provides the possibility for decentralized exchanges to realize cross-chain atomic transactions.
On-chain decentralized casinos and games often require safe and reliable random injection. Cyptobit Network random number engine provides unpredictable and verifiable random number generation.
Commercial computing such as machine learning training models and 3D rendering needs to complete a variety of complex computing tasks. The off-chain computing market provides verifiable and unlimited off-chain computing capabilities.