NEST Protocol is an innovative decentralised oracle network designed to provide accurate and tamper-proof price feeds for smart contracts on the blockchain. Originating from China, NEST Protocol leverages the power of blockchain technology to solve the challenge of obtaining reliable data (particularly pricing data) for decentralised finance (DeFi) applications. It utilizes an on-chain incentive mechanism to encourage users, referred to as miners, to submit data. This data is then verified and corrected through a decentralised mechanism involving collateral, driving accuracy and authenticity. Distinguished by its unique quotation mining process, NEST aims to ensure the integrity and precision of off-chain data brought onto the blockchain, minimizing risks associated with price manipulation. Its decentralised architecture eliminates the need for trust in a central entity, positioning NEST as a foundational infrastructure for DeFi projects seeking secure and transparent data solutions.
NEST Protocol is an innovative decentralised oracle network designed to provide accurate and tamper-proof price feeds for smart contracts on the blockchain. Originating from China, NEST Protocol leverages the power of blockchain technology to solve the challenge of obtaining reliable data (particularly pricing data) for decentralised finance (DeFi) applications. It utilizes an on-chain incentive mechanism to encourage users, referred to as miners, to submit data. This data is then verified and corrected through a decentralised mechanism involving collateral, driving accuracy and authenticity. Distinguished by its unique quotation mining process, NEST aims to ensure the integrity and precision of off-chain data brought onto the blockchain, minimizing risks associated with price manipulation. Its decentralised architecture eliminates the need for trust in a central entity, positioning NEST as a foundational infrastructure for DeFi projects seeking secure and transparent data solutions.
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