There are many requirements in the application of smart contracts in the real world ranging from securities smart contracts such as bonds, interest rate derivatives that require access to APIs reporting market prices and market reference. Insurance smart contracts that need data feeds about IoT data related to the insurable event in question. Trade finance smart contracts that need GPS data about shipments, data from supply chain ERP systems, and more.
It is essential the ordained clauses in the contracts agreement are accurate, hence the need for a network like WINkLink.
WINkLink is a decentralized oracle network that ensures the security of the entire procedure of smart contracts execution, including obtaining data from off-chain sources. It is the first TRON ecosystem Oracle to completely integrate real-world activities into blockchain to provide reliability, unpredictability, and randomness and also restore trust by improving user data and experience.
On April 26, 2021, the WINk team completed the complete acquisition of the justlink.io website to commence official use.
Smart contracts are mandatory prerequisites for the execution of most contracts (be it in the digital and real-world), hence there needs to be an increased level of accuracy.
WINkLink features allow it to output data securely to off-chain systems, which implements the connection to the real world and ensures the temper-proof of smart contracts while being decentralized on the blockchain network.
WIN is the official utility token of the WINkLink ecosystem; it is a TRC-20 token used in the payment of WINkLink node operators for the retrieval of data from off-chain data feeds, formatting of data into blockchain readable formats, off-chain computation, and uptime guarantees they provide as operators.
The WINkLink workflow process commences with a User making an on-chain request (users are referred to as USER-SC). The WINkLink-SC logs an event on the oracle and the core picks the logged event and routes the assignment to an adapter.
WINkLink adapter performs a request to an external API and processes the response, then passes the results back to the WINk core. The core reports to the WINkLink-SC and computes the result into a single response for the USER-SC.
Who are the Founders of WINkLink (WIN)?
Lucia Wong is a Chinese figure and the Chief Executive Officer (CEO) of the WINkLink ecosystem—no further information about her or their creators is presently accessible.
What is WINkLink (WIN) used for?
WINkLink is used in accessing legit price data and information to Defi platforms as decentralized financial also have to provide prices for token trading and loan collateral. WINkLink’s embedded price oracle system offers stable and reliable price feeds to DeFi-building developers.
It provides trusted off-chain data for various uses. WINkLink allows developers to use any real-world data such as sports and weather. Developers can create customized oracles and connect smart contracts to the real world in a few minutes.
It can also be used to access get seated randomness as WINkLink provides developers with secure and verifiable randomness so that oracles can meet DApps’ various needs for random numbers. The tamper-proof nature of VRF random numbers improves the fairness of random number results.
Asset management platforms can also rebalance their asset ratio by accessing the latest token prices provided by WINkLink, which facilitates DEX to adjust fund pools.
Blockchain derivatives platforms can provide reliable on-chain valuation by accessing the latest prices provided by WINkLink, which helps them create synthetic assets, futures contracts, or options contracts.
What Is the Unique Point of WINkLink (WIN)?
The unique point of WINkLink is its reputation system used in recording user ratings of oracle service providers and nodes.
Any reports generated by the validation system can be the primary factor of the reputation. Information other than this can include users’ familiarity with oracles’ brands, operating entities, and architectures.
The reputation system can provide reports obtained by other smart contracts. We also consider calculating the reputation metrics off-chain, as there can be massive data to be analyzed.
For a given oracle operator, the reputation system is initially proposed as supporting the following metrics, both at the granularity of specific assignment types, and also in general for all types supported by a node.
The reputation system will encourage oracle service providers to keep higher availability and performance.
How many WINkLink (WIN) coins are in circulation?
WINkLink has a live market cap of USD 454,887,630. It has a circulating supply of 961,737,300,000 WIN coins and a max. supply of 999,000,000,000 WIN coins.
Is the WINkLink (WIN)Network secured?
Concerning security whereby an attacker attempts to dominate the oracle pool by controlling several nodes that seem independent, making the oracle node exposed to the risk of Sybil attacks. These attacks allow the affected nodes to provide wrong data at any specific time to influence large transactions in high-value contracts.
The Certification Service supports endorsements based on several features of oracle deployment and behavior. It would monitor the Validation System statistics on oracles and perform post-hoc spot-checking of on-chain answers—particularly for high-value transactions—comparing them with answers obtained directly from reputable data sources.
In addition to the reputation metrics, automated on-chain, and automated off-chain systems for fraud detection, the Certification Service is planned as a means to identify Sybil attacks and other malfeasance that automated on-chain systems cannot.
No one can control the actions of smart contracts once deployed; this makes the security of the oracle important.
WINkLink proposes a contract-upgrade service for security reasons. The service will be run by the organizations that launch WINkLink nodes and follow WINkLink’s philosophy of decentralized design.
Many smart contract hack events show there remain significant security risks. This is precisely the reason for our proposing the contract-upgrade service.
Contract-upgrade service is non-mandatory as Users decide whether to turn this on according to their demand.
Contract-upgrade service will deploy a new set of oracle contracts once vulnerabilities are discovered. The two versions of contracts will both exist and are available to use.
How do I buy WINkLink (WIN)?
WINkLink is different from the average cryptocurrency in every way as it links the digital world with the blockchain ecosystem. It has layers of security that verify all outputted real-time data. WINkLink tokens can be easily purchased by the following steps.
* Open an account with the crypto trading platform.
* Transfer the specific amount of your fiat currency to your account.
* Wait for your deposit to be confirmed and Buy WINkLink through your trading account.
Which Cryptocurrency Wallet Supports WINkLink (WIN)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as WINkLink (WIN). Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their WINkLink wallet because it offers a simple WINkLink interactive interface making it easy for people to navigate its system.