Road to Decentralization
The path to Goracle’s complete protocol — from Mainnet-Beta to Off-chain Computation.
Goracle aims to be a fully decentralized protocol that uses Algorand’s pure proof of stake mechanism. Full decentralization of a protocol is usually achieved over time as participants enter the ecosystem.
After a year of building, Goracle is excited to announce the protocol is near completion. To release the product in a secure manner, Goracle has identified four key phases on the path to decentralization, going from a trusted beta mainnet launch, to a fully decentralized and feature complete oracle.
Price Pair Mainnet-Beta Launch — December 2022
In the first phase, Goracle will launch with a trusted group of third party node runners. The purpose of this phase is to get developers excited about and using Goracle. It is also important to get community feedback, and ensure we iterate on what users like and dislike. Finally, this will allow us to test how external node runners perform once control has been handed to parties outside the Goracle development team in a mainnet environment.
There has been growing consensus that oracles are a public good. Many leading oracle solutions on various chains have some core price feeds that are open to the all developers. Goracle wants to ensure new and seasoned developers have a base class of key DeFi data to build their product on. Having such a product will allow Goracle to have developers onboard and launch products with minimal costs such as hackathons. Developers that need more than just price pairs can use the full protocol on a pay-per-call basis.
By launching to Mainnet-Beta, we want developers to know Goracle is committed to ensuring the price pairs stay up, and in the current community beacon format for the foreseeable future. The Mainnet-Beta Price Oracle beacon is considered ‘trusted’ because the full Goracle protocol relies on the GORA token to achieve consensus. In this iteration, prior to the launch of the Goracle token, node runners selected to participate will each be given a single “participation” token which will allow them to submit feeds.
So far, the Goracle team has successfully run the price pair in testnet. By opening this up to external node running parties, Goracle will be able to monitor and gain valuable feedback about the motivations and actions of third-party node runners. This will allow us to improve our incentive mechanisms and standard operation procedures, and iterate on them in the incentivized testnet phase.
Phase II — Incentivized Testnet — Feb 2023
In the next phase, Goracle will open up the full protocol, including custom request responses on aggregated data feds to any node runner currently on the whitelist. This phase will allow for developers to begin using larger datasets, such as custom DeFi, sports, weather, flight, NFT and blockchain data. This phase will also enable the Goracle team to test a larger group of node runners, including retail (i.e. non-institutional) node runners.
Phase III — Protocol & Token Launch — April 2023
In this phase, Goracle will launch the full protocol, focusing on providing access to aggregated data feeds. This version will also require the launch of the Goracle token to the public, and on DEX and CEX’s. Node runners in this phase will be able to join by just purchasing the token, signing up via the web app, thendownloading the node runner software.
To learn more about you can be a part of the journey, reach out on our contact form, or find us at one of the links below.
