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These Are The Ten Biggest Cryptocurrencies Used For Oracles

By Aman Jain. Originally published at ValueWalk.

biggest cryptocurrencies used for oracles

Blockchains and smart contracts can’t themselves access data that is outside of the network, and this is where oracles help. Oracles are basically third-party services that make available external information to smart contracts, or we could say, they connect blockchains and the outside world. Let’s take a look at the ten biggest cryptocurrencies used for oracles.


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Ten Biggest Cryptocurrencies Used For Oracles

We have used the market cap data as of March 30, 2022 (from coinmarketcap.com) to rank the ten biggest cryptocurrencies used for oracles. Following are the ten biggest cryptocurrencies used for oracles:

  1. Tellor (TRB: >$56 million)

Launched in 2019, it is a decentralized network of staked data reporters. The data it supplies can be requested, validated and put on-chain with data reporters, who compete with each other for TRB. TRB is up almost 16% in the last seven days, and is currently trading around $24.67. It has an all-time high of $163.76 (May 2021) and an all-time low of $1.11 (November 2019).

  1. DIA (DIA: >$69 million)

Founded in 2018, it is an open-source oracle platform that allows users to source, supply and share trustable data. DIA (Decentralized Information Asset) basically works as a bridge between off-chain data and on-chain smart contracts. DIA is up over 11% in the last seven days, and is currently trading around $1.06. It has an all-time high of $5.79 (May 2021) and an all-time low of $0.7329 (January 2022).

  1. Band Protocol (BAND: >$162 million)

In September 2019, it was initially launched as an ERC-20 project on the Ethereum blockchain, but in June 2020, it transitioned to the Cosmos network after the release of Band Protocol 2. Band Protocol is a cross-chain data oracle platform that provides real-world data to on-chain applications. BAND is up over 20% in the last seven days, and is currently trading around $4.67. It has an all-time high of $23.19 (April 2021) and an all-time low of $0.2042 (November 2019).

  1. Augur (REP: >$175 million)

It is a decentralized prediction market that is built on the Ethereum blockchain. Augur users can gain a reputation by forecasting events, as well as earn rewards by predicting the events accurately. REP is up over 12% in the last seven days, and is currently trading around $16.02. It has an all-time high of $123.24 (January 2018) and an all-time low of $0.783 (September 2016).

  1. iExec RLC (RLC: >$190 million)

Founded in October 2016, it provides blockchain-based decentralized computing with the goal to reinvent cloud computing by creating a new cloud computing paradigm. iExec RLC supports applications in several fields, including healthcare, fintech, big data, AI and more. RLC is up over 23% in the last seven days, and is currently trading around $2.41. It has an all-time high of $16.26 (May 2021) and an all-time low of $0.1488 (December 2018).

  1. API3 (API3: >$205 million)

Launched in 2020, it enables decentralized versions of APIs to be developed, managed and monetized. API3 allows API providers to operate their very own nodes. API3 is up over 14% in the last seven days, and is currently trading around $5.65. It has an all-time high of $10.31 (April 2021) and an all-time low of $1.24 (December 2020).

  1. WINkLink (WIN: >$320 million)

WINkLink fully integrates the real world with the blockchain space. The network helps to fully restore trust and improve user experience by supporting payment systems, data, events and more. Its native token WIN is the governance token of the WINkLink oracle network. WIN is up over 16% in the last seven days, and is currently trading around $0.0003387. It has an all-time high of $0.002965 (April 2021) and an all-time low of $0.00004145 (March 2020).

  1. UMA (UMA: >$530 million)

Launched in December 2018, it is a protocol for creating synthetic assets based on the Ethereum (ETH) blockchain. UMA allows users to come up with self-executing, self-enforcing financial contracts that are secured by economic incentives. UMA is up over 6% in the last seven days, and is currently trading around $8.10. It has an all-time high of $43.37 (February 2021) and an all-time low of $1.16 (May 2020).

  1. Bridge Oracle (BRG: >$620 million)

It claims to be the first public oracle system on the TRON Network. Bridge Oracle is basically a technology that helps to inject external data into blockchain systems. BRG is up over 5000% in the last seven days, and is currently trading around $0.07688. It has an all-time high of $0.482 (February 2021) and an all-time low of $0.0001087 (November 2021).

  1. Chainlink (LINK: >$8 billion)

Founded in 2017, it allows blockchains to securely connect with external data feeds, events and payment methods. Chainlink enables users to become node operators, as well as earn revenue by supporting the data infrastructure needed by blockchain. LINK is up almost 13% in the last seven days, and is currently trading over $17. It has an all-time high of $52.88 (May 2021) and an all-time low of $0.1263 (September 2017).

Updated on

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