-BLOCKSENSE-

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14 Feb 2024
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-BLOCKSENSE-
I would be happy if you support me for this article. @blocksense_
@BlockBrilliant


--BlockSense: The ZK Rollup for Scaling Oracle Data BlockSense is a fully decentralized protocol that uses ZK rollup to scale oracle data to infinity. It aims to provide unprecedented efficiency and security, allowing anyone to create secure oracles in minutes.

Problems with Current Oracle Networks

Prohibitive Costs: The bandwidth and cost for publishing data on blockchains have seen little improvement since their early days, limiting the scope of possible use cases.

--Opaque Business Models: Emerging L2/L3 networks face challenges in getting equal access to data as the established chains due to hefty fees negotiated behind closed doors.

--Centralization and Bureaucracy: Bringing new data on-chain is a slow and expensive process.

BlockSense’s Solutions

Unprecedented Efficiency and Security: BlockSense’s network produces tightly packed blocks of data updates that can be published on the target chain with a single transaction.

--Through the power of Merkle trees, the data universe can scale to an unlimited number of continuously updated data feeds.

--Transparent and Market-Driven Fee Model: BlockSense has designed a flexible fee model that allows the most popular data feeds to become cheaper to access over time while increasing their security.

--Fully Decentralized and Permissionless: Anyone can create a new data feed by writing a simple script.

--Anyone can become a data provider by staking funds and operating an automated oracle node.

--Any DApp on any chain can access BlockSense’s entire universe of data.

--How BlockSense Works BlockSense believes in cryptography and game-theoretic incentives that minimize the required trust.

--All data is verified by a ZK circuit implementing the Schelling Coin principle.

--Effective committee randomization, bribery-resistant vote tallying, and a social reputation system minimize the risk of collusion and data manipulation.

--High levels of redundancy in the data publication paths ensure that no data update can be delayed or censored.

--Creating Data Feeds with JavaScript SDK Arbitrary data feeds can be created with BlockSense’s JavaScript SDK.

--Each oracle is a simple script that can perform arbitrary compute or I/O tasks.

--When the information source/s can be authenticated in a certain way, additional proofs for the integrity of the data are propagated to the zero-knowledge circuits of the network.

--Staking and Running an Oracle Node Anyone can become a data provider on the network by staking the BlockSense token.

--Nodes gain reputation over time and certain individuals or institutions may choose to verify their identity on the network, increasing the security for everyone.

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