What is Charli3?
Charli3 (C3) is a decentralized oracle network designed for the Cardano blockchain. Oracles act as bridges between real-world transactions and blockchain by providing reliable off-chain data streams. Charli3 provides an oracle service to bridge the gap and complete the process. Smart contracts run on the blockchain like regular contracts, but instead of being drafted on paper, they are protocols on the blockchain. In the early days, blockchains were public ledgers supporting a cryptocurrency network, but with smart contracts, more complex and conditioned transactions became possible.
Charli3 aims to be a trusted network for users by offering a flexible and scalable solution with fewer transaction fees. The platform helps users by providing robust and trusted data feeds that smart contracts can rely on, and a solution that can scale with increased public and institutional adoption. C3 is the native token of the platform, and it has multiple use cases on the platform. Node operators are required to stake C3 tokens to operate a node. Operators who provide accurate data are rewarded, and those who fail to do so have their stakes cut with reduced future weight on data streams.
Unlike Ethereum-based oracles, which have multiple inherent limitations and scaling issues, Charli3 directly responds to the scaling and other limitations hassling Ethereum-based solutions. Ethereum-based oracles can only process fifteen transactions per second, leading to congestion and long wait times during heavy chain traffic. Charli3 addresses these limitations and seeks to provide a more efficient and secure solution. The team of experts at Charli3 brings along a diverse range of experience from traditional finance to healthcare operations and blockchain.
Charli3 seeks to provide decentralized and consensus protocols that are the backbones for trustless data streams between parties, allowing accurate transactions to happen even without knowing all the parties involved in the process. Charli3 aims to provide a more efficient and secure solution to the current issues in Ethereum-based solutions by offering quicker and less expensive transactions that are more scalable.
C3 has a maximum supply of 100,000,000 tokens. The CMO, Damon Zwarich, comes from a marketing and academic background, and interprofessional collaboration and research are his core strengths. The Charli3 team aims to build a trusted network for users that can help them access off-chain data in a reliable and secure manner.
In summary, Charli3 is a decentralized oracle network designed for the Cardano blockchain that provides an efficient and secure solution to the scaling and other limitations that Ethereum-based solutions are facing. The platform aims to provide a flexible and scalable solution with fewer transaction fees, allowing users to access reliable off-chain data in a trustless manner. With its robust and trusted data feeds and the use of decentralized and consensus protocols, Charli3 aims to be a trusted network for users.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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