Topic: Themis (MIS), is Creating a New Era of the Oracle Machine Industry (Read 125 times)

The recent popularity of DeFi has attracted the public’s attention to oracle machines. Various oracle projects have launched the market, trying to gain some profit out of this concept. Different from other oracle projects in the market, Themis, while emphasizing distribution, introduced random numbers, becoming the most competitive project in the market. Themis is likely to open a new era of oracles, an era of decentralized random oracle machine.

Themis mainly targets scenarios such as random oracles, chain asset oracles, and computational oracles. Whether it is traditional Internet applications or blockchain-based related DApps, Themis can offer credible, verifiable and unpredictable random numbers. Themis has a wide range of applications, especially in the DeFi projects: with Themis's solution, DeFi can better guarantee the security of financial data. In addition, other blockchain projects can also benefit from Themis's VRF mechanism to further expand their territory and provide users with a more secured experience.

Thanks to the several unique core technologies, including random numbers, adopted by Themis in the design, Themis is on its way to revolutionize DeFi and lead the development of blockchain.

Random Number Oracle

Through the random number mechanism, Themis can provide real and effective random numbers, which are widely used in public service, lottery activities, gambling products, decentralized games etc., and can create more DeFi scenarios. The random number mechanism is fair, just and effective, can guarantee the randomness of the product, avoid attacks, and allow users to participate in fair and transparent environment.

Verifiable Hashrate

With computations exceeding the upper limit of in-chain service fee, consuming a lot of computation time, and limited in-chain storage capacity, Themis may put the computation and the computational data out of the chain, and conduct checking computation and recall by recall mechanism by verifiable mechanism, so as to solve these problems.

Multi-asset Quotation

In Themis's ecology, the quotation process of asset prices on the chain is completely open, anyone can become a data provider, and the price and pledge scale are set independently. The more the users pledge, the more rewards they will get.

After data providers use verifiable random function (VRF) to generate verifiable random numbers and introduce the random numbers and Themis (ERC-20) under pledge to smart contracts, data verifiers can verify the random numbers uploaded, and introduce the verification results to arbitration nodes. Then, Arbitration nodes will arbitrate the verification results. If the deviation between the price provided by the data provider and the actual existence is greater than the threshold, the data provider will lose the pledged Themis (ERC-20). This mechanism ensures that the quotation is a fair price in the market.

With this mechanism, Themis can be used in a variety of DeFi products, such as decentralized transaction, self-settled mortgage loan, and products of futures and options, to ensure data security, fairness and justice.

Anti-attack Algorithm

Hacking is undoubtedly a major hidden danger of blockchain applications and platforms. Themis prevents attacks by increasing the cost of the attacker: Firstly, when verifiers challenge the data, they have to pledge certain Themis (ERC-20). After that, they have to leave a new data or asset, which means that, after verifiers challenge, they must leave correct data or lose more Themis (ERC-20). Secondly, in order to increase attackers' cost, the pledge scale for all the verifiers is arranged as follows: if the pledge scale for data providers is n1, then the pledge scale for verifiers is n2=mx1, in which m>1, meaning that verifiers must challenge with at least twice the pledge scale. With continuous challenge, attackers need to pay extremely great cost to distort the market price for a certain period of time. This algorithm can effectively ensure the safety of Themis ecosystem.

Oracle Machine, as a tool that can implement specific algorithms and connect the real world and blockchain, is bound to have great development potential. With its unique core technology, Themis provides an independent decentralized random number oracle solution, which offers a good data security guarantee and more application scenarios for various applications and platforms. We are looking forward to the technology breakthrough and future development of Themis.