Blockchain information channels
This feature powered by the Gravit engine allows anyone to build a gateway between an external API and the blockchain or to create directly an API on the blockchain, providing permanent blockchain storage of (optionally) preprocessed data and information.
An API in the cloud, advantages:
- Totally permanent storage without requiring a server or database
- Easy access to any information stored on the blockchain at a particular time, perfect to generate stats even years after the data has been taken.
- Bot postprocessing of the recorded data, patterns analysis, ...
- Data is accessible to anyone at any time without the server limitations related to a conventional API.
Fields of application: Opendata, news providers, statistics, trading, alert systems, social networks, science, research, universities, permanent knowledge storage...
How does it work?
The Gravit engine uses the attachment feature of each transactions to publish data on the blockchain, addresses are generated and every one of them represent a specific information channel. Any developer can then create its own data viewer easily or execute deeper analysis.
Filters can be easily added to prevent airdrops and other transactions to interfere with the provided data(by only taking into consideration transactions coming from one specific address and/or incoming transactions of one specific token).
Size does matter
Attachments are limited to 140 characters but this doesn't mean we have to rely on sharing simple raw data/json over the Waves network. We're working on an indexation system able to cut any sized message into several small ones to store more complex information. This indexation system is part of other projects as well, we plan to be the first to publish a complete book on the blockchain and may run a permanent/resourceless blockchain powered blog.
User created channels and fueling
Our API will allow users to create easily their own blockchain channels and publish information on them. Our system will make it possible to do that without the users having any technical knowledge of the blockchain, as easily as typing an url into a browser or having a script doing it for themselves.
Publishing transactions and data on the blockchain has a price, that's where the fueling concept comes into play. The generated address has to be "fueled" in Waves or any other valuable cryptocurrency in order to work. As long as the address is fueled, the API calls will be able to create transactions on the blockchain, once the fuel has been used, API calls won't be processed anymore. Gravit engine uses its own "fuel" to provide cheaper transactions than the normal 0.001 Waves ones.
The channel owner as well as the community will be able to fuel the channel address, external users may want an informative system to remain available for their own use.
The fueling can also be rewarding to channel creators, data providers will be able to add a fee to the base fuel amount(which will be taken by Gravit engine for transactions creation on the blockchain and server resources) that will be automatically sent everyday to their own address.
|Free demo: Waves ticker channel|
Base fees: 0.000 Waves per day
Data provider fees: 0.000 Waves per day
Total fuel needed per day: 0.000 Waves
Fuel available: 0.000 Waves
With the current fuel, this channel will remain active for infinite days.
This is a free demo (no fueling required) of the service we can provide, we've got a bot running which is getting data from Bittrex API every 10 minutes and register it on the blockchain, it gets the last BTC price of Waves on the exchange as well as the volume and calculates the changes percentage. These data are published on the blockchain, available to anyone, forever, for free. Any developer can create its own viewer or process the registered data even a few years from now, any user can look at the channel address and view all the transactions which have been made containing the necessary data as attachment.
Simply put, this is a Waves ticker on the Waves blockchain.
This is our first step for the creation of a fully featured and open trading alert system on the blockchain(comparable to cryptoping).
|09/25/2017 12:31 GMT: B T C 0 . 0 0 1 0 9 7 4 6 + |