My name is Paul. It’s my pleasure to say “hello” to my lovely friends here and to introduce myself.
Some of you guys may think I am just a cute octopus meme. Indeed, I am cute. I surely admit that. Actually I believe I am the cutest octopus in the world for sure. However, if you think that’s all about me, then I would say you are wrong.
In my very essence, I am a cutting-edged blockchain oracle system. I am strongly technology-driven and professional in my job. I run my oracle algorithm relentlessly with extreme damn calm.
Someone may ask what an oracle is. Well, don’t worry. I wouldn’t take it as an offense. I have a good temper and I love chatting with rookies. In brief, an oracle system works as a bridge between blockchain network and external environment to allow them interact with each other. We all know blockchain is powerful but it still can’t interact with external information independently. The support from oracle is indispensable to the wider adoption of blockchain technologies.
Talking about what my strengths are, well, you should know the status of existing blockchain oracles. Basically, the oracle solutions on the market can be divided into two types. The first is to collect data off chain and conduct the validation on chain, which is the most common solution. This solution has a lot of issues, such as low efficiency, poor timeliness and high gas fee. For those time-sensitive assets and applications (actually the majority), this may not really work. Another solution is to collect data that have already been generated on chain, but when it comes to a continuous one-directional market, just as what it was in the past few months, the outcomes from this solution would be a nightmare.
The operating mechanism of me has introduced the quoting system used by global top finance institutes. They are all the industry icons in high-frequency automatic trading for single benchmark in multiple trading scenarios. I use pledged asset quoting and arbitrage validation to build real-time quoting validation mechanism. In extreme situations, I can generate a smoother price curve by statistical hypothesis-testing. This would be much more valuable to Dapps on DeFi market, especially for those who rely heavily on price feed timeliness, such as margin trading and perpetual swap trading.
For where I live, I’ll build my system on the current mainstream public chains one by one. This wouldn’t take too long because my algorithm can be deployed quickly. Later on, I’ll give my own cross-chain solution. By then, most of Dapps in blockchain world can use my service. All kinds of advanced DeFi trading functions wouldn’t have big barriers anymore.
The above is just a brief introduction. I’ll meet you here every now and then and discuss more interesting details with all of you guys. Follow me to avoid missing my stories.