Poseidon Network will use Chainlink’s decentralized oracle network to enable smart contracts secure access to Poseidon’s off-chain computing platform. Chainlink oracles will verify data processed on the Poseidon Network and use it to trigger smart contracts that pay those nodes providing computing resources. Establishing this connection between on-chain and off-chain networks is foundational to the future of smart contracts.
Poseidon Network provides decentralized edge solutions aimed to create a worldwide P2P infrastructure, including decentralized CDN, storage, and computing. Users can provide their unused bandwidth and storage from their devices, such as NAS, computers, mobile devices, etc. Poseidon’s platform network collects and re-allocates these resources to users who need them. It utilizes idle resources and allows users to share those resources in exchange for rewards.
The team consists mostly of R&D, IT, and Internet industry members. Our Founder & CEO, Light Lin, established a company called Wretch, which he eventually sold to Yahoo.
During the development process of our decentralized edge product, we discovered that the combination of a token economy and decentralized architecture could facilitate a more complete and healthy ecosystem.Why use Chainlink?
Decentralized oracles verify data more securely and efficiently, which helps foster trusted and reliable communication of data between on-chain and off-chain environments. Additionally, their development of threshold signatures reduces the costs of using decentralized oracles at scale.
In addition to confirming the status of network transactions, Ethereum can also handle coded logic in the form of smart contracts.
Take for example:If X occurs, then execute Y. When both X and Y data are stored on the blockchain (i.e., in smart contracts), the contract can be easily executed. However, once X and/or Y reside off-chain, ex...