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About Berry Data
Key Points:
- Berry Data is a decentralized price oracle on Binance Smart Chain (BSC)
- It provides trustless, decentralized off-chain data acquisition
- Miners are incentivized to submit data via inflationary rewards
- Data users can access latest data feeds by paying a service fee in BRY
- Founders: John WU, Mandy NG, and Dr. Tom HAO
- BRY is the governance token, with a circulating supply of 2,000,000 and max supply of 7,500,000
- Data values can be disputed and taken off-chain
- BRY can be traded
About Berry Data
At the forefront of innovation, Berry Data is a pioneering force in the realm of cryptocurrency and blockchain technology.
Introducing Berry Data (BRY): A Comprehensive Overview
Berry Data constitutes a transparent and community-verified price oracle situated on the Binance Smart Chain (BSC), offering a trustless, decentralized alternative for the acquisition of off-chain data. By providing the necessary infrastructure, Berry Data enables decentralized applications to query off-chain data, thereby properly incentivizing miners to furnish valid information.
Berry Data constitutes an oracle system wherein parties can submit requests for the value of an off-chain data point, prompting miners to engage in a competitive process to integrate this value into an on-chain repository, thereby rendering it accessible to decentralized applications (DApps) operating on the Binance Smart Chain.
The inputs to this data repository are secured through a decentralized network of staked miners. Berry Data leverages crypto-economic incentive mechanisms, which reward miners for submitting high-quality data while disincentivizing malicious actors. This is facilitated through Berry Data’s governance token, BRY, and a robust dispute resolution mechanism.
Miners are motivated to contribute data in exchange for inflationary rewards, with the specific data types they update determined by the tips allocated to each query. Meanwhile, DApps and other data consumers can access the latest data feeds by paying a service fee in BRY. Furthermore, they can request additional data and price feeds by offering rewards as an incentive to miners, thereby fostering a dynamic of mutual benefit.
Every 3 minutes, the BERRY smart contract aggregates the most highly funded data types and generates a proof-of-work (PoW) challenge, which miners then strive to resolve. The first miner to successfully provide the PoW solution for the off-chain data point is rewarded with freshly minted tokens and the accumulated service fee associated with that specific data request.
The Visionaries Behind Berry Data: Meet the Founders
The core team driving Berry Data forward comprises esteemed individuals, including John WU, Mandy NG, and the esteemed Dr. Tom HAO.
John WU, Berry Data’s esteemed Chief Technology Officer, boasts an impressive pedigree, having previously served as a senior technical architect at IRISnet. Notably, Wu’s technical expertise was also leveraged as a community code contributor for the esteemed Cosmos Project.
Mandy NG, a seasoned professional with a proven track record in coin listings across the APAC region, serves as Berry Data’s Chief Operating Officer and formerly held the position of Business Development Manager at KuCoin exchange.
Dr. Tom HAO, Berry Data’s esteemed chief scientist, holds a Ph.D. in Computer Science from Jilin University in China, underscoring his exceptional academic pedigree.
Unveiling the Unparalleled Excellence of Berry Data
BRY is Berry Data’s governance token, meticulously crafted to foster a transparent, community-driven, and open-source oracle platform, seamlessly integrated into the decentralized finance (DeFi) ecosystem, leveraging the robust infrastructure of the Binance Smart Chain.
Berry Data has established a 23% ecosystem fund, which is meticulously managed by the Berry team. This revenue stream serves as a catalyst to incentivize token holders, facilitate data collection and validation, drive the development of innovative technologies and open-source decentralized applications (DApps), and foster active participation in governance.
Berry Data collaborates with decentralized finance (DeFi) projects on the Binance Smart Chain (BSC), offering bespoke oracle solutions at competitive rates.
What Is the Circulating Supply of Berry Data (BRY) Coins?
As of March 2021, Berry Data (BRY) boasts a circulating supply of 2,000,000 tokens, with a capped maximum supply of 7,500,000 BRY.
The Berry Data Network’s Robust Security Framework: A Comprehensive Overview
Data values on the Berry network are susceptible to disputes and can be taken off the blockchain. The longer a user delays disputing the data after its on-chain submission, the more likely it is to persist, thereby bolstering security.
Any entity can contest the data submission of any miner, provided they submit a dispute fee concurrently with each challenge. Upon submission of the dispute fee, the potentially malicious data miner is placed in a locked state for the duration of the voting process.
Within the ensuing 48-hour timeframe, BRY token holders are empowered to cast their votes on the legitimacy of the mined value. Furthermore, all BRY token holders are entitled to participate in the dispute resolution process, with a vested interest in upholding a network of trustworthy oracles.
Acquiring Berry Data (BRY): A Comprehensive Guide to Exchanges and Marketplaces
Berry Data (BRY) is currently listed and actively traded on a variety of prominent cryptocurrency exchanges, providing users with multiple avenues for buying and selling this digital asset.
- The esteemed PancakeSwap
- The prominent Hotbit
- The innovative OpenOcean
For a comprehensive understanding of the cryptocurrency buying process, we invite you to explore CoinMarketCap’s in-depth guide, expertly crafted to illuminate the intricacies of this complex landscape.
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