Article Summary, Automatically Generated By AI
Summary of Charli3
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Definition of Charli3:
A decentralized oracle network for the Cardano blockchain, providing off-chain data to on-chain smart contracts. -
Key features:**- Data pulled from APIs, hashed on-chain, and available as data streams.
- Native to Cardano, avoiding issues with flexibility, scaling, and growing transaction fees seen with Ethereum-based oracles.
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Context:**- Second-generation blockchains introduced smart contracts with complex transactions.
- Oracles provide off-chain data to on-chain smart contracts.
About Charli3
At the forefront of innovation, Charli3 is a pioneering force in the realm of cryptocurrency and blockchain technology.
Introducing Charli3: A Revolutionary Platform
Data sourced from APIs, cryptographically hashed on-chain, and seamlessly accessible to protocols as real-time data streams.
Second-generation blockchains have ushered in the era of smart contracts, enabling the execution of complex, conditional transactions. Through these self-executing agreements, participating parties can stipulate transactional terms via a combination of on-chain and off-chain parameters.
Notably, blockchains are inherently incapable of accessing the requisite off-chain data. This limitation necessitates the introduction of a specialized service, referred to as an oracle, which serves as a bridge, providing off-chain data to on-chain smart contracts.
Charli3 pioneers the first decentralized oracle network, natively integrated with the Cardano blockchain. By leveraging Cardano’s infrastructure, Charli3 seeks to overcome the notable limitations of Ethereum-based oracles, including inflexibility, scalability constraints, and escalating transaction fees, while establishing a robust foundation on a trusted network.