DOS Network + The Force Protocol: Boosting the Development of “DeFi”
Dear DOS Network supporters and followers, we are thrilled to announce that DOS Network and The Force Protocol have formally established a long-term strategic partnership! Both parties will collaborate closely in the field of distributed crypto-financial services.
The Force Protocol project, also called distributed crypto-financial services protocols, which is an open source blockchain platform, offers crypto-financial services solutions to developers. It offers cross-chain technology backed decentralized crypto-financial services with the under-layer standard data network of protocols. At present, The Force Protocol has been developed based on mainstream public chains such as Ethereum, EOS, and Bitcoin RSK networks, and will provide financial service development tools for developers in the near future.
The Force Protocol offers development convenience for decentralized finance applications through its SDK toolkit and APIs resources towards DAPP development and operation. This platform offers solutions for financial needs such as cross-platform assets transaction, shared trading volume, cross-chain communication, multiple blockchain crypto-assets collaterals backed stable coin issuing, token bonds issuing, on-chain payment, settlement, and clearing of transactions, etc.
The Force Protocol builds a common development platform for decentralized financial services development in distributed finance ecosystem. This project offers data communication standard and development frameworks for financial services in distributed networks to help crypto-assets realize safe and high-efficiency value inter-actives in a uniform framework.
DOS Network is a layer 2 chain-agnostic Decentralized Oracle Service network, providing real-time data feed and computation solutions to multiple blockchains. It enables Dapps to fetch external data and execute complex computation through decentralized off-chain network in a secure and efficient way, which will encourage more and more use cases to appear on the blockchain.
DOS Network has six major technological innovations compared to other general oracle projects:
1. Decentralized and Reliable: A trustworthy decentralized solution without single point of failure;
2. Real-Time and Verifiable: Near real-time request fulfillment and on-chain verifiable response;
3. Compatible to Heterogeneous Blockchains: Support multiple blockchains and enable cross-chain interactions;
4. Secure and Trustworthy: Driven by Verifiable Random Engine and advanced cryptographic signatures;
5. Scalable at a Low Cost: Data query throughput and computation capacity increase as more nodes join;
6. Crypto Incentivized: Dynamic network incentivized by honest participation rewards.
In the current blockchain industry, low transaction speed and the collection of trusted off-chain data are the major bottlenecks of distributed crypto-financial apps. In the case of a mortgage lending scenario, both borrowers and lenders need to determine the mortgage rate and interest rate based on the market value of the mortgaged asset, and the value of the collateral needs to be continuously updated with off-chain credible price data to ensure timely execution of the collateral trust contract, the close position, and other operations.
Before the appearance of a trusted oracle network, the price data collection of the financial-service Dapp is vulnerable to hacker attacks and is easily tampered by the data provider, which greatly affects the credibility of the distributed crypto-financial services and affects the user experience. However, transaction security can be significantly improved if the mechanism of trusted off-chain data collection is adopted and the corresponding key data can be transmitted through a secure data channel, which can remarkably improve transaction security. In this way, the adaptability and credibility of the distributed crypto-financial services scenario will be greatly enhanced, and the user experience will be upgraded.
The open-source and open-development strategy of The Force Protocol has led to the establishment of the trillion-level distributed crypto-financial services market. A large number of distributed crypto-financial service apps will greatly expand the service scope of DOS Network, and explore more possibility and potential of the oracle services of DOS Network.
The powerful technical support of the DOS Network enables The Force Protocol to have a decentralized, secure and trusted data channel, which facilitates off-chain data collection and greatly enhances transaction security. DOS Network will help The Force Protocol become a globally representative distributed crypto-financial service platform and achieve the support of large-scale blockchain commercial applications. DOS Network and The Force Protocol will cooperate closely to achieve more blockchain financial application scenarios.
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