TRX News

The TRON network is about to get its first-ever public oracle system – Cointelegraph

A new project says it is delivering the first-ever public oracle system on the TRON network, enabling real-world data to be injected into smart contracts.

According to the team behind the Bridge oracle, the lack of this infrastructure is currently a pain point as it limits the blockchain’s use case to a tokenization platform.

They believe that the creation of this system is crucial for attracting small businesses who may not have the means, ability or time to create their own dedicated oracles. This could help the Tron (TRX) network progress and expand in the months and years to come.

As the project’s white paper explains, “Creating a public oracle system on Tron network will cause people to be able to implement their local or small business on blockchain, as well as benefit from peer-to-peer payment methods on the Tron network using native coin and tokens.”

The importance of smart contracts

Oracles make blockchains more than just a tool for asset tokenization; they also allow for the creation of a programming ecosystem. Bridge aims to deliver this connectivity, meaning that decentralized apps can finally be created for ordinary users on the Tron blockchain.

Although the Tron network has succeeded in attracting developers, the Bridge team believe that there’s more work to be done. This blockchain currently has the second-highest number of DApps worldwide at 750, a number far behind Ethereum’s 3,000. “There should be a practical solution to fill the gap, based on which Tron is enabled to outpace Ethereum and stand in first place,” the project’s white paper states. The number of active accounts on Tron could surpass that of Ethereum soon, according to Coin Metrics — a vision that Bridge hopes
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