Why is Tic Ton a Game Changer?
Some might view an oracle as merely a conduit for data, a pipeline facilitating the authentication and dissemination of information from various sources onto the blockchain. Yet, Tic Ton's approach doesn't rely on predefined trustworthy sources; instead, it motivates diverse sources to supply precise data. Evidently, miners are driven to provide accurate prices, receiving Tic Ton tokens as a reward for their valuable contributions.
Another common misunderstanding about decentralized oracles is the susceptibility of the verification process to inaccuracies, potentially leading to the distribution of flawed data on the network. However, this isn't an issue for Tic Ton. Its validators are incentivized to deter the propagation of incorrect data to the blockchain. In fact, if a quote is traded, it's withheld from publication. Transactions on the Tic Ton oracle occur only when the quoted price diverges from the real-world price.
These two pivotal aspects distinguish Tic Ton. Rather than simply importing, correcting, aggregating, and publishing, it's a system inherently designed to produce and ensure data accuracy from the outset.
Tic Ton epitomizes a genuinely decentralized oracle.
The foundational principle of blockchain is decentralization, primarily for its enhanced security features. Tic Ton is crafted to uphold this decentralization, ensuring secure and effective integration with various blockchain networks. Its decentralized nature is ingrained in its design, allowing participants to assume any role, engage at any moment, and exit at their discretion.
Tic Ton maintains data's authenticity and is resistant to manipulation.
The integrity of data in Tic Ton is meticulously upheld through validation processes. As previously mentioned, should the quoted price diverge from the true price, verifiers will engage in trading, preventing its publication on the blockchain. Additionally, the verification phase concludes only when no further arbitrage possibilities exist, ensuring the data from Tic Ton is consistently reliable and reflective of actual data.
Data providers (miners) are deterred from submitting incorrect data due to the comprehensive quotation fee (commission fee) they bear, which escalates with each verifier's transaction involving the quoted price. This mechanism ensures that the data inputted into Tic Ton closely mirrors off-chain data. Moreover, as incentivized miners relay external information through their quotes, it effectively aligns off-chain and on-chain data, enhancing both the precision and responsiveness of the data.
Lastly, Tic Ton is fortified against attacks. With the collateral escalating after each unsuccessful verification (trade), the cost of injecting erroneous data becomes prohibitively high. This serves as a strong deterrent against any attempts to compromise the system.
Conclusions
As blockchain networks increasingly seek off-chain data, Tic Ton meets this growing need through an innovative and decentralized approach. With this in mind, Tic Ton boasts a wide range of applications and has already been incorporated into many Defi projects. It undoubtedly possesses the capability to emerge as a premier oracle in the industry.