MassBit is pleased to announce its collaboration with SupraOracles, a Cross-chain Blockchain Oracles. MassBit’s objective is to provide an innovative infrastructure that makes DeFi and Web3 apps work faster, easier, more reliable, and more cost-effective. 3 MassBit products in the stage of testing include MassBit Route, Cross-chain Indexing, and MassBit Insights.
To provide a completely decentralized solution, all those joining any platform will operate based on the MassBit Verification Protocol. The protocol is built on proof of stake and economic incentives, which implies that workers must stake before beginning their tasks, and that all those working on the same tasks have incentives to check on each other in order to earn greater rewards. This ensures operational honesty.
Based on the MassBit protocol, new types of workers can be introduced to create oracles for the SupraOracles project.
Blockchain indexing is critical to the development of DeFi and Web3. MassBit offers the infrastructure for indexing data from various blockchains. As a result of this collaboration, SupraOracles will be able to extract oracles from cross-chain indexing and oracle producing workers. To create decentralized gateways, MassBit collaborates with small API providers and validators.
Minh Doan, CEO and Co-founder of MassBit, commented:
“We are glad to be working with SupraOracles to advance DeFi and Web3 applications. The competent staff at SupraOracles, as well as their devotion to providing the developers with a new Oracle toolset that will add considerable value to the development of the MassBit vision, have impressed us. We are excited about providing consumers with a brand-new DeFi and Web3 experience that will make development easier, faster, and less expensive.”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented:
“MassBit’s objective is to provide an innovative infrastructure that makes DeFi and Web3 app creation faster, simpler, more dependable, and less expensive. SupraOracles is thrilled to be a part of the upcoming DeFi and Web3 age. We are certain that MassBit will be able to meet their aim of offering new infrastructure as DeFi and Web3 continue to gain traction.”
MassBit provides fully decentralized solutions for Defi and Web3 App project development. Currently with 3 products in the stage of development, MassBit enables DeFi and Web3 App development to be faster, stable, scalable, and more cost-effective.
The powerful ‘glue’ holding together and supporting all the products is the MassBit Verification Protocol, which is based on Proof of Stake. The protocol incentivizes those working within the system to verify each other’s work. The verification of other nodes, gateways, or indexers gives rewards or penalties for the mistakes to each individual or entity. From that, the protocol ensures the whole network’s health.
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SupraOracles is attempting to bridge the gap between traditional capital markets and the Web 3.0 environment. Our goal and driving objective is to provide a new Oracle toolset to the developer community so that they can easily construct, deploy, and manage data applications with superior performance, robustness, and agility.
Our team includes seasoned individuals with backgrounds in consensus mechanism design, randomness research, real-time data services, investment banking, digital securities, traditional stock exchanges, big data, PhD academia, big 4 consulting, blockchain/DLT, and DeFi.
SupraOracles, in collaboration with our developer community and an increasing list of partners, intends to solve the Oracle issue and eventually power the future of finance.
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