Flux — The new huge player in oracle area

Oberhoff
2 min readSep 13, 2021

Please welcome — https://www.fluxprotocol.org

The trust-less data layer

Flux is a cross-chain oracle aggregator that provides smart contracts with access to economically secure data feeds on anything. Every component of the protocol is designed to be maximally open-source, permissionless, and trustless, enabling individuals and communities to design and develop bespoke solutions for data provision and retrieval.

What the Flux Oracle does?

The Flux Oracle is a highly permissionless and decentralized protocol for requesting and processing arbitrary off-chain data for on-chain resolution. It possesses unique attributes to improve the network’s flexibility and security while also providing economic guarantees that scale with the value secured through the oracle.

The FLX token secures the protocol and is necessary for creating and resolving data requests. By utilizing a community-curated list of custom request interfaces — each providing custom features, services, and payment models — the Flux Oracle allows protocols to connect to existing infrastructure to securely and flexibly handle data requests. Request interfaces can create and curate data requests on behalf of protocols or users needing off-chain data, while validators collaborate to resolve the outcomes.

The oracle can also serve as a backstop for existing oracle pipelines and APIs, further strengthening an external network’s security and hardening data integrity.

The guide how to set up your smart contract as a Data Requester with the testnet deployment of Flux on NEAR you can find here — https://docs.fluxprotocol.org/docs/getting-started/data-requesters

The guide how to manually answer data requests or run a Validator with the testnet deployment of Flux on NEAR you can find here — https://docs.fluxprotocol.org/docs/getting-started/data-validators

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