Oraclize – Smart Blockchain Oracle Service For Data-Rich Contracts?
Oraclize is a blockchain technology company focusing on creating applications for the FinTech space. Find out everything you need to know about Oraclize today in our review.
What Is Oraclize?
Oraclize, found online at Oraclize.it, is a blockchain technology company that recently made headlines for closing its €500,000 seed funding round led by Digital Identity SA.
The company is creating blockchain applications across a variety of spaces, including cryptocurrency and FinTech. Specifically, Oraclize is catering its services to financial companies, cryptocurrency wallets, and decentralized exchanges.
Oraclize has a platform-agnostic data carrier technology that can be used to facilitate cryptographically-secured data transfer on a number of DApps.
As part of its partnership with Digital Identity, Oraclize is creating a safe data-transport-layer that allows for the creation of decentralized applications, or DApps. Since 2015, Oraclize has served over 200,000 requests on the Ethereum mainnet and several million more on testnets, where it’s backed its claims with authenticity proofs based on a variety of cryptographic techniques.
The company was launched in March 2015.
Oraclize offers a number of services to developers. Oraclize works as a data carrier for decentralized apps. Developers can take advantage of this data carrier platform to build decentralized apps – including everything from online games to travel insurance DApps.
As a “data carrier”, Oraclize acts as a reliable connection between web APIs and your DApp. There’s no need to open additional trustlines because Oraclize’s good behavior is enforced by cryptographic proofs. With that in mind, here are some of the services the company offers to developers:
Web IDE & Code Samples:
Test some Oraclize code samples using the browser-solidity Web IDE, available through the official website at dev.oraclize.it.
Oraclize’s API documentation section is where you can learn more about the company’s oracle service interface. You can view API documentation for Ethereum, Bitcoin, HTTP REST, and more.
Oraclize has created a wide range of open source tools over the years. You can view a complete library of the company’s open source tools and projects at their Github page.
For developers stuck on one specific issue, Oraclize has a development support channel you can use to answer your questions.
Since 2015, Oraclize has helped create a number of decentralized apps. Developers have created decentralized apps, or DApps, on Oraclize to solve real world problems. Some of Oraclize’s projects so far have included:
Flight Delay DApp:
Gives you an instant payout in case your flight is late. We’ve seen similar smart contract-based systems which basically work as a form of travel insurance. An oracle checks your flight’s departure time, and executes the smart contract based on whether or not your flight was delayed.
StackExchange Bouty DApp:
This DApp provides bounties for Stack Exchange questions.
Proof Of Identity:
This is an on-chain identity verification system that lets you link an Ethereum address to your Estonian Digi-ID. Estonia has an eResidency program that’s become popular among digital nomads, allowing them to easily form a corporation in Estonia, pay 0% corporate taxes, and operate a legal EU-based business.
Pray For Prey:
This is an online game based on Ethereum.
Oraclize has created a reputation system based on online identities like Twitter.
vDice is a decentralized Ethereum-based gambling game.
Oraclize has created an automated escrow system for YouTubers and their sponsors.
Fehu provides automated cash on delivery.
Oraclize is based mostly in London. The company’s mission, according to Oraclize.it, is “to provide part of the infrastructure needed to build smart and useful decentralized applications which in our mind will play a new and important role in the years coming.”
You can get in touch with the developers by email at [email protected] The company was founded in March 2015.
Oraclize is a platform-agnostic oracle development service designed to help developers take advantage of smart contracts. The company describes itself as offering “attestation as a service”. They deliver the data you need along with an authenticity proof, which is a cryptographic guarantee proving your data hasn’t been tampered with. Today, Oraclizes’s secure data carrier service has been used to create a wide range of decentralized apps, including everything from online games to travel insurance services.
You can learn more about Oraclize or access the London-based company’s developer resources by visiting them online at Oraclize.it.