Bridge Oracle is a decentralized blockchain network developed to make the Tron network scalable and move it to a higher speed point. The native cryptocurrency of the network is the BRG token, which is seen as an alternative to Chainlink.
What is Bridge Oracle?
Bridge Oracle’s system is a generic Oracle technology based on the BNB Chain network, which provides all Oracle services for blockchain-based DeFi platforms and decentralized applications.
There are various types of services in the Bridge Oracle system. To use a particular type of service, an appropriate API contract must be transferred to the user’s smart contract, according to the owner’s requirements. Thus, there are several API contracts in the Bridge ecosystem, each with a specific function. Various API contracts include:
Public API contract: It is designed to simply eliminate the requirements arising from external data, where the validity of the data or proving the validity of the data is not so important to the user. Of course, in this method, various kinds of evidence will be provided to resolve the proof of validity of the data in the near future.
Enterprise API contracts specific to each company or organization that volunteers to sell data for the BRG token: Enterprise API contract is provided for corporate companies and organizations that have private and private data that is not publicly published and shared. These companies and organizations can sell such data using the Bridge system, and users who need such data can import that company’s private API contract. This API contract redirects users’ requests to that particular company’s contract, where proprietary oracle data carriers directly monitor and respond to users’ contracts and inject privately reserved data into their contracts. Companies and organizations can exchange their private information with the BRG token paid for by users’ smart contracts. In fact, corporate organizations can make money by selling data to Bridge users. This is one of Bridge Oracle’s business plans. Business plans are discussed in the whitepaper.
Decentralized API contract: It is intended for users who need a fully decentralized platform application. Therefore, they must also retrieve external data using a decentralized Oracle system. As the development of such an infrastructure is among our future plans, details on designing such a system will be reported in the future.
It should be noted that using each of the above conventions depends on the user’s requirements.
What is BRG Token?
BRG token is the cryptocurrency of Bridge Oracle, which provides oracle service in DeFi decentralized finance applications on the Tron blockchain network. For this reason, it can be preferred in decentralized financial transactions. In the oracle system, which can be used through API contracts, payments are made with BRG. BRG is also a payment tool used to make a more secure transaction while taking advantage of DeFi protocols.
The current price of BRG token is as follows:
Bridge Oracle (BRG)
How to Buy BRG Token?
To get BRG tokens, the following steps must be followed:
- In order to buy Bridge Oracle, first of all, it is necessary to know the exchanges where this token is listed.
- An account must be created on one of the exchanges where the token is located.
- After logging into the account, the balance must be loaded into the wallet for token purchase.
- The balance can be loaded by credit or debit card, or by bank transfer.
- Any amount of BRG tokens can be purchased with the money loaded into the wallet.
- Purchased tokens can be stored in cold or hot wallets.
Bridge Oracle Token Advantages and Disadvantages
Bridge carries some advantages for Oracle users. However, besides the advantages, the protocol also has some disadvantages. This protocol draws attention especially in terms of generating passive income. On the other hand, being open to the risk of attack is among its disadvantages.
BRG token advantages can be listed as follows:
- Passive Income: Bridge Oracle (BRG) holders earn new cryptocurrencies through the method of staking cryptocurrencies in their wallets. There is a profit area other than trading.
- Interest Earnings: Bridge Oracle (BRG) holders give loans to those on the network who want to borrow cryptocurrencies. They get their repayment with interest.
- Speed and low Cost: Bridge Oracle (BRG) can be traded and even sent across borders between cryptocurrency wallets. Charges paid in transactions are lower than banking service transaction fees.
BRG token disadvantages can be listed as follows:
- Inability to Trade on Global Crypto Exchanges: BRG token is not traded on global cryptocurrency exchanges such as Binance, Coinbase, Huobi Global. It is not possible to enter into transactions with it on every preferred account.
- Attack Risk: While the BRG token is stored in the virtual wallet, it is at risk of attacks that may occur on the network in online conditions. The risk is eliminated when hardware is stored offline in wallets.
On Which Exchanges Is Bridge Oracle?
BRG token is not listed on popular cryptocurrency exchanges such as Binance, Huobi, Gate.io. Before buying tokens, it is necessary to know the relevant exchanges. Exchanges with Bridge Oracle token are as follows:
- PancakeSwap (V2)
- ProBit Global
- LBank
- CoinEx
- biswap
- BitMart
- DigiFinex
- HitBTC
- XT.COM
- BKEX
- CoinW
