What is Zap (ZAP)? What’s hot about the first decentralized Oracle platform?

Introduce

Zap is the first decentralized oracle platform to launch mainnet. This historic event happened on January 1, 2019. Since then, a lot has changed and the protocol has expanded its capabilities far beyond mere data delivery.

  • What is Zap (ZAP)?
  • Zap What problem does it solve?
  • Should you invest in the project?

This article will answer these questions in turn. And give you an overview from the general to the detailed about this project. So what are you waiting for, let’s start writing right now!

What is Zap (ZAP)?

Zap is a permissionless protocol that allows anyone to:

  • Buy or sell data
  • Create liquid tokens
  • Set a predefined valuation curve
  • Link or not link money to these curves
  • Build all kinds of products/services using these tools

Current information

What problem does Zap solve?

Today’s smart contract development ecosystem is one where developers try to access off-chain data to interact with the world outside the blockchain. Currently, a smart contract has only limited access to data, and that data is only found on its own blockchain.

Project Zap was born to solve one of the biggest challenges in the blockchain industry – the need for Oracle can provide smart contracts with access to off-chain data.

Maybe you are interested:

What are Oracles?

Zap’s workaround

Zap provides a marketplace for data feeds and a network mechanism for prioritizing those feeds for use in smart contracts and decentralized applications (Dapps). Oracles are mechanisms for distributing external data into defined smart contracts. Without Oracles, smart contracts can only use information stored directly on the blockchain.

Zap allows data providers (i.e. the creators of Oracles) to list their feeds / Oracles for free on the Zap Store, a marketplace for finding the data you need, ready to be accessed. accessed by smart contracts. You can create your own Oracle with just one API and Zap.tech oracle creation toolkit. Alternatively, you can also sponsor a community bounty to create a new Oracle.

three core goals

Build a secure Source Agnostic Oracle Network

Anyone with useful data will have the opportunity to become a data provider to share their information without the need for other interested parties. Zap will combine blockchain technology, smart contracts, and Dapps to handle off-chain processes, to create such a platform.

Incentivize Oracle Creation and Curation

To maintain the network and facilitate growth, ZAP will reward users for helping to create, support, and/or use an Oracle.

Fuel Development of Next-Gen Embedded Dapps

Dapps form the backbone of off-chain processes tied to the blockchain through smart contracts. They are an important part of the Ethereum ecosystem and Web 3.0 paradigm, and are still in their infancy when it comes to unlocking their full potential. Zap delivers innovation to its users, through which data monetization will enable a whole new generation of Dapps encompassing multiple possibilities.

Information about ZAP . token

What is ZAP token?

Zap is a token based on Ethereum technology. It is the only mechanism to link with Oracles in Zap Ecosystem and produce Dot (Dot is the currency in Zap Oracles Ecosystem).

What are tokens used for?

Token Holders all have full rights to use tokens to access and monetize the feed in our network.

Similar projects?

  • Chainlink (LINK)
  • Band Protocol (BAND)
  • Decentralized Information Asset (DIA)
  • DOS Network (DOS)
  • Aeternity (AE)

Project team

Source: icobench.com

Partners of the project

  • Cooperation with UConn School of Engineering to develop DeFi
  • Cooperation with the Project DIVI to create Zap Wrapped Divi in ​​Zap . platform
  • Zap recently collaborated with Coinecko, the market leader in providing fundamental analysis for the cryptocurrency market
  • Zap signed a strategic cooperation agreement with Howdoo, a decentralized social media and content distribution platform for today’s generation.
  • Cooperation with Stox, an open source Ethereum-based prediction market platform, to provide actual data on events listed on Stox’s prediction market.
  • partnered with billionaire and businessman Sean “Diddy” Combs.

Investors & Advisors

Source: icobench.com

There is no information about Investors.

Roadmap

Source: Zap Whitepaper

Currently Zap has completed Roadmap

Where to store ZAP tokens?

ZAP is an ERC-20 token and can be stored in any wallet that supports ERC-20 tokens like Metamask, TrustWallet.

Currently the token is present on which exchange?

Currently, ZAP Tokens have been traded on exchanges such as, Bitrue, HitBTC, Poloniex, IDEX.

Coming soon, the exchange Bitmoon Will add a list of more ZAP tokens so you can buy and sell ZAP in VND.

See more articles: What is Bitmoon? Bitmoon Exchange Basic Guide for Newbies 2020

Media channel of the project

Twitter: https://twitter.com/ZapOracles

Medium: https://medium.com/the-zap-project

Telegram: https://web.telegram.org/#/[email protected]

Github: https://github.com/zapproject

Youtube: https://www.youtube.com/channel/UCj53uS32K8UwQCytBwPqmtg

Should you invest in the project?

Through what GocTienAo has provided you, and for me personally, this is a normal project, nothing special, but still solves the problem of accessing data outside the chain with Zap Oracle. Please consider and make your own decision whether to add Zap to your portfolio or not!

Conclude

The above article has provided you with an overview to the details of the Zap project. Hope GocTienAo has given you useful information about the project. If you find it interesting, please share the article with your friends!

All investment statements above are personal. All investment decisions are made by you and you are responsible for your assets. Good luck!

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