What Is Charli3 (C3)? 

Charli3 is a decentralized oracle network for the Cardanoblockchain. An oracle works like a bridge between real-world transactions and blockchain by providing reliable off-chain data streams. In other words, oracle is a service that offers off-chain data to on-chain smart contracts. 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. 

In the earliest stage, blockchains were only shared public ledgers supporting a cryptocurrency network. However, second-generation blockchains have developed smart contracts that enabled more complex and conditioned transactions. However, blockchains alone cannot access all the off-chain data itself. Hence, the oracle service is used to bridge the gap and complete the process. 

Charli3 is one such oracle service network helping users and is built on Cardano instead of Ethereum blockchain. The oracles developed with Ethereum have multiple inherent limitations and scaling issues. Like Ethereum based oracles can only process fifteen transactions per second, leading to congestion and long wait times during heavy chain traffic. 

Charli3 directly responds to the scaling and other limitations hassling Ethereum based solutions. Cardano solutions are quicker, less expensive, and more secure. Hence, Charli3 aims to be a trusted network for users by offering a flexible and scalable solution with fewer transaction fees. Charli3 seeks to provide robust and trusted data feeds that the smart contracts can rely on and a solution that can scale with increased public and institutional adoption.

Decentralization and consensus protocols are the backbones and allow for trustless data streams between parties and accurate transactions to happen even without knowing all the parties involved in the process.          

C3 is the native token of the platform and has multiple use cases on the platform. The node operators are required to stake C3 tokens to operate a node. The operators who successfully provide accurate data are rewarded, and those who fail to do that have their stakes cut with reduced future weight on data streams. 

History of Charli3 (C3)   

The team of experts at Charli3 bring along a diverse range of experience from traditional finance to healthcare operations and blockchain. Damon Zwarich is the CMO. Damon comes from a marketing and academic background, and interprofessional collaboration and research are his core strengths.  

The maximum supply of C3 tokens is 100,000,000 tokens.