What is oracle machine?
Oracle machine is one of the important infrastructures in the blockchain industry, which is also a mechanism for inputting off-chain information into the blockchain. Any off-chain information such as events, data and payment information can be recorded on the on-chain smart contracts through the oracle, thus expanding the application scenarios of smart contracts and helping the blockchain integrate with other industries.
What is Hazel?
Hazel is a blockchain-oriented prediction service which features decentralization, or more specifically, a new generation of verifiable oracle machine based on Polkadot. It aims to exactly support the on-chain operation of enterprise-level Internet applications with high-concurrency through consensus mechanisms, smart contracts, trusted computing, privacy protection and the interaction of on-chain and off-chain data.
What is the operating mechanism of Hazel?
Hazel is devoted to creating a fully decentralized oracle machine without credit endorsement through the pledging of assets by data predictors. The core concept of it is to correct prediction data on events to make them infinitely approach off-chain real-time data through the spontaneous arbitrage of the market.
What can I do with Hazel Tokens?
Token holders have the right to govern the oracle network and ecosystem there. What’s more, the benefits generated in the process of using data by data consumers will also belong to token holders.