Plugin Decentralized Oracle

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Description

Plugin Decentralized Oracle (PLI) is a robust solution utilizing the XDC Network to enhance data reliability for blockchain applications, launched in 2021. It uses a distributed network of nodes to bridge off-chain data with smart contracts, ensuring integrity and security. Key features include real-time data validation, seamless integration with existing blockchain ecosystems, and scalability for high-volume transactions. PLI aims to empower smart contracts with reliable external data, significantly expanding their applicability across various sectors like finance, supply chain, and IoT. With a total supply of 500,000,000 tokens and 151,365,659 in circulation, PLI offers cost-effective oracle solutions within the XinFin XDC Network. The last known price of PLI ranges between 0.0228 USD and 0.0252 USD, and it is traded on 17 active markets with 24-hour trading volumes between $170,201.14 and $223,963.75. More information can be found on their official website: [https://www.goplugin.co/](https://www.goplugin.co/).

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FAQ

What is Plugin Decentralized Oracle and its primary purpose?

Plugin Decentralized Oracle (PLI) is a decentralized oracle service operating on the XDC Network. Its primary purpose is to enhance data reliability and accuracy for blockchain applications by bridging off-chain data to smart contracts. Utilizing a distributed network of nodes, it ensures data integrity, making it suitable for use cases in finance, supply chain, and IoT sectors.

How does Plugin Decentralized Oracle leverage the XDC Network?

Plugin Decentralized Oracle leverages the XDC Network by providing decentralized oracle services that connect smart contracts with reliable external data. It utilizes the network's high-security standards and scalability to offer real-time data validation and secure data feeds, ensuring that external data integrated into blockchain ecosystems is both tamper-proof and reliable.

What are the benefits of using Plugin Decentralized Oracle?

Using Plugin Decentralized Oracle offers several benefits, including real-time data validation, secure and tamper-proof data feeds, and seamless integration with existing blockchain ecosystems. It also provides scalability for handling high-volume transactions, which is crucial for expanding the applicability of smart contracts across various industries such as finance, supply chain, and IoT.

How does Plugin Decentralized Oracle compare to other oracle providers?

Plugin Decentralized Oracle distinguishes itself by operating on the XDC Network, offering a cost-effective and scalable solution for connecting smart contracts to external data. It emphasizes high-degree security through distributed nodes, ensuring data accuracy and integrity. This reliability makes it a strong competitor among oracle providers, especially for decentralized applications requiring robust data feeds.

In which industries can Plugin Decentralized Oracle be applied effectively?

Plugin Decentralized Oracle can be effectively applied in several industries, including finance, supply chain, and IoT. Its ability to provide secure, real-time external data to smart contracts makes it invaluable for financial transactions, tracking supply chain logistics, and managing IoT devices' data integration, thereby expanding the functionality and reliability of blockchain solutions in these fields.

What should I do if I encounter issues with Plugin Decentralized Oracle data feeds?

If you encounter issues with Plugin Decentralized Oracle data feeds, you should first verify your connection and integration with the XDC Network. Ensure that your access to the distributed network of nodes is stable and that there are no discrepancies in the data source or feed requests. For persistent issues, consulting Plugin's official support resources or community forums can provide additional troubleshooting assistance.

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