This text takes a have a look at Charli3 ($C3), which is “a decentralized Oracle designed from the bottom up for the Cardano community” that went dwell on the Cardano mainnet on October 15.
— Dan Gambardello (@cryptorecruitr) October 17, 2022
Oracles are “essential parts of a blockchain” since “they supply good contracts” with “numerous real-world information kinds, equivalent to value info, the profitable completion of a fee, the temperature measured by a sensor, sports activities outcomes, and lots of extra”, i.e. an oracle “acts as a bridge between the true world and blockchain by offering trusted and dependable off-chain information streams”.
As for the $C3 token, this can be a “Cardano Native Token that powers the Charli3 Oracle”. It’s “the forex used to pay the node operators for offering correct information feeds”. DApps will probably be “paying C3 tokens to the node operators per appropriate node worth aggregated and so, due to this fact, supporting the perpetual utility of the C3 token”.
With regard to the origin of the title “Charli3”, in keeping with the group, that is “an homage to Charles Hoskinson”, and “the ‘3’ changing the ‘e’ is tech/leet communicate given the trade we’re in, in addition to representing the three founders Damon, Jonas, and Robert”.
The day after the launch of Charli3 on the Cardano mainnet, Damon Zwarich, who’s the CMO, spoke to Cardano Ambassador and Stake Pool Operator Pete Bui.
An amazing interview in #Denver from @astroboysoup after the Charli3 Oracle most important internet launch #Cardanohttps://t.co/1l5fgohzZk
— Charli3 (@Oraclecharli3) October 17, 2022
One of many fascinating factors that Zwarich made throughout this wonderful interview was how the latest Vasil improve — which introduced in an enhancement often known as “Reference inputs” (CIP-31) that “allows information sharing on-chain” — has affected their income mannequin:
“Now, it’s a single enter. A single token that goes on-line… and it’s infinitely pull-able from one supply for all tasks. So, you don’t must add many, many, many multiples, which retains congestion down. It retains latency down on getting the information to the challenge as quick as doable.
“And it additionally retains prices down as a result of now you’re not paying for a zillion transactions to be placed on chain. You’re solely paying for one. So far as how individuals pays for that, this reference enter mannequin has sort of messed over our concept of what we deliberate to construct you recognize.
“So, we’ve got to determine that out later. If it’s a novel set of information, you’ll must pay for it since you’re the one one utilizing it. The issue with the reference enter mannequin for a income supply is that if it’s a really wanted piece of information… the primary individual received’t wish to must pay for that alone and have everybody piggyback off it as a result of now as soon as it’s there, anybody can go from it. We’re attempting to determine one thing out, perhaps a subscription mannequin sooner or later.“