Equilibria (XEQ) is an open-sourced community project focused on creating a private and decentralized Oracle solution (a database platform used to store and retrieve related information) to seek to provide private, reliable, and scalable data to smart contracts by a scalable blockchain-agnostic ecosystem. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. According to its whitepaper, Equilibria seeks to build an ecosystem based on oracle network design to benefit multiple projects and strengthen the overall cryptocurrency system.

The Equilibria platform aims to solve the problems, including altered data feeds, network troubles, system downtime, network shut-down, etc., occurring while obtaining data from the blockchain. The platform seems to strengthen the other projects’ decentralized applications (DApps) and encourages them to build their own through the Oracle cluster - function. Equilibria uses the Oracle Node Network (decentralized apps and oracle functions for projects to pull data) to feed data to the blockchain. 

Moreover, the Equilibria Oracle Nodes are community-run nodes that observe data and transmit it back to the blockchain, and node holders get rewards for providing this service. The network uses the hybrid proof-of-stake (PoS) and proof-of-work (PoW) consensus algorithm to confirm the transactions, wherein the miners take half the reward. Currently, the platform is prepared for two use cases, asset price tracking and esports events.

Further, the network has XEQ as its native token. According to the whitepaper, XEQ is a private, untraceable, fungible cryptocurrency. The users can stake or lock the token as collateral for 30 days to run an Oracle Node. The token is a primary means of exchange for e-sports betting. The primary data exchange via smart contracts will also use the coin.

Harrison Heslink and Thomas Parker started the Equilibria project in 2018. Heslink is the founder of Equilibria and served as the lead developer of the blockchain and its Oracle clusters. Parker serves as the front-end developer and marketer and GreggyGB as node operations manager. The platform has a maximum total supply of 77,000,000 XEQ tokens.