Powered by the WIN token, WINkLink is the first comprehensive decentralized oracle service to bring reliable real-world data onto the TRON blockchain. As the first-ever TRON oracle service, the project is looking to capture an emerging market of decentralized applications (dApps) throughout the TRON ecosystem. Also, the WINkLink service offers “reliable, unpredictable, and verifiable random numbers” to help remove trust and improve user experiences in payments systems, decentralized finance (DeFi), and events. This is possible thanks to the WINkLink Verifiable Random Function (VRF).
In this article, we’re going to dive deep into the WINkLink platform. We’ll explore some of the core features of the TRON oracle and its utility within the TRON ecosystem. Also, we’ll discuss the WIN token and some of the upcoming features to be added to the WINkLink crypto ecosystem.
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What is WINkLink?
WINkLink is a decentralized oracle service operating on the TRON network. The project enables smart contract-enabled blockchains and decentralized applications (dApps) to bring external data on-chain. The aim of WINkLink is to enable smart contracts to connect with real-world data for TRON-based smart contracts without compromising on decentralization, security, or reliability.
Furthermore, WINkLink uses three primary modules within its architecture. Firstly is the external data source. This is the data that needs to be taken onto the blockchain. Data types include data from centralized exchanges, centralized oracle services, and application programming interfaces (APIs) from exchanges. Secondly is the WINkLink node. WINkLink nodes monitor on-chain requests, run task processing, retrieve data from external sources, and publish results on the blockchain. The third is the TRON blockchain. WINkLink nodes monitor network events on-chain and off-chain, trigger tasks, sign transactions that are broadcast to the network via APIs, and return data request results.
The platform is modular in design to allow for frictionless upgrades and integrations. Moreover, as a decentralized oracle service, WINkLink removes the need for third parties and intermediaries, instead opting for a trustless system.
The TRON Ecosystem
Powered by the native TRX token, TRON is a “decentralized blockchain platform for supporting smart contracts and high throughput”. Also, TRON aims to create an equitable platform for developers to build and deploy decentralized applications with minimal costs. The WIN token uses the TRON-native TRC-20 token standard. Much like the Ethereum ERC-20 token standard, TRC-20 facilitates high levels of interoperability between decentralized applications throughout the TRON ecosystem.
TRON commits to creating a decentralized internet that harnesses the power of smart contract-based blockchain applications. As such, several innovative projects are building applications on TRON as the ecosystem continues to develop and thrive. Moreover, TRON is among the most widely-used smart contract-compatible blockchains in the industry.
WINkLink is the result of the acquisition of justlink.io, a TRON-native oracle service. Following the rebrand to WINkLink, the project aims to serve as a bridge between the various data services and applications throughout the TRON ecosystem.
What are Oracles?
Oracles communicate and verify real-world data on the blockchain. Smart contracts create a path for assets to move between addresses. Oracles come into play to assess whether or not conditions within a smart contract have been met. Often, projects will use multiple oracles. Oracles gather real-world data from several locations and cryptographically sign on the blockchain to ensure validity. Oracle node operators have an incentive to provide accurate data as they may lose a stake or incur a penalty for inaccurate data.
Oracles are an essential component of many applications operating through smart contracts. Not only are oracles in demand for decentralized finance (DeFi) protocols, but they also have a number of applications outside of finance. For example, decentralized weather insurance relies on oracles to deliver accurate reporting. In the event of a natural disaster or adverse weather, oracles can help farmers if a harvest is damaged. Also, supply chain management can benefit from the use of oracles with real-time traffic updates and logistics programs.
Oracle Node
The WINkLink TRON oracle network consists of several nodes, just like a blockchain network. All nodes have their own data source set. Oracles aggregate data from each source and send the results to the requesting address. Data requests can select multiple nodes to provide higher levels of accuracy. The owner of an oracle contract is also the WINkLink oracle node. An oracle node processes data before submitting it to the requesting party and receiving fees from the user of the oracle contract.
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The WIN Token
The WIN token is a TRON-based TRC-20 utility token used as a base asset throughout the WINkLink crypto ecosystem. Oracle node operators receive payment in the form of WIN tokens for retrieving off-chain data, converting it into a readable format for the blockchain, off-chain computations, and uptime guarantees. Also, the WIN token will be required for protocol governance, allowing token holders to vote on proposals to make updates and changes to the platform.
At the time of writing, the WIN token is trading at around $0.00067, with a market cap of $518,425 million, according to CoinGecko. In the future, the project expects the WIN token to provide further utility to the network and facilitate new platform features and integrations.
Data Aggregation and Security
To minimize the number of faulty nodes that appear on the network, WINkLink can gather data from multiple sources to reduce the effect of abnormal data sources. Also, the project aggregates the results from distributed data sources into a single output by calculating weighted averages and removing abnormal data.
Price Service
The WINkLink Price Service provides accurate price information for various currencies and real-world prices via the WINkLink Price Feed Contract. The service aims to ensure that token prices in smart contract-based applications are as close as possible to real-world prices. This is important, as, without a reliable price feed, users and developers of decentralized applications (dApps) can suffer as a result of arbitrage and smart contract attacks.
Furthermore, the WINkLink Price Service aggregates data from several WINkLink nodes to create a highly stable price service. Developers can obtain prices for numerous token pairs. Plus, developers can deploy their own customized price services for others to use in decentralized applications (dApps).
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Random Number Service
The WINLink Random Number Service is a Verifiable Random Function (VRF) that uses a public key variation of a cryptographic hash to generate secure and reliably random numbers. Anyone with access to the public key can verify that the hash is correct. However, only the private key holder can compute the hash.
The process begins when decentralized applications (dApps) send on-chain requests for random numbers via smart contracts. An off-chain oracle node that hears the request can attach a randomly generated number to a verified cryptographic proof before submitting it back to the VRFCoordinator oracle contract. Upon verification, random numbers are then published back into the dApp smart contract via a callback function.
Various applications can use this technology for tamper-proof random number generation. Furthermore, it shows particular utility in blockchain-based gaming for assigning resources and duties in a verifiably random way.
Contract-Upgrade Service
Once deployed, nobody can influence the actions of a smart contract. However, WINkLink is proposing a contract-upgrade service to improve oracle security. As the contract-upgrade service is optional, users can decide whether or not they want to use it or not.
The service works by deploying new oracle contracts upon discovering a vulnerability. Both iterations of the oracle contract remain available for use. A flag will then become available that allows requesting contracts to choose which version they want to use. Moreover, by upgrading oracle contracts, users can avoid some of the issues presented by oracle failures and smart contract hacks.
Roadmap and Future Plans
In the future, we can expect to see the WINkLink TRON oracle service introduce various new safety features to improve reliability. Below are some of the key services expected to be developed by WINkLink soon.
Validation System
The WINkLink validation system will enable users of the TRON oracle service to monitor the performance and behavior of oracles using on-chain data. The system will monitor the availability of oracles and record any oracles that fail or stop responding to queries. Also, the system will check for correctness, measuring deviations compared with other oracle nodes in the network.
Reputation System
WINkLink also plans to introduce a reputation system for recording user ratings of oracle providers and node operators. Reports created using the validation system determine the reputation of a network participant. Also, the reputation system will use metrics such as the total number of requests assigned and fulfilled, average response times, and total amount paid in penalty payments. Not only will this system be useful when selecting a node operator for their services, but it also aims to raise the bar for availability and reliability throughout the network.
Certification Service
Oracle nodes are at risk of Sybil attacks. Sybil attacks occur when a malicious actor tries to dominate an oracle pool, taking control of several nodes while they still appear to be independent. When this happens, nodes can provide inaccurate or false data to manipulate high-value transactions.
WINkLink is proposing a certification service that will provide endorsements for oracle behavior. Endorsements will monitor statistics from the Validation System and cross-reference the answers that oracles provide with answers taken directly from reputable sources. Also, the service will boast fraud detection systems and act as a way of identifying Sybil attacks and other threats.
WINkLink and the WIN Token Summary
As the TRON ecosystem continues to expand, the WINkLink decentralized oracle service could become widely adopted for various use cases in TRON-based decentralized finance (DeFi) protocols, insurance, internet of things (IoT), non-fungible token (NFT) gaming projects, and more. Furthermore, as “the first TRON ecosystem comprehensive oracle”, WINkLink positions itself well to provide trustless data for a rapidly expanding ecosystem of decentralized applications (dApps).
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