What Is ACRIA (ACRIA)?
One of the most pressing issues when developing smart contracts is the lack of real-world data. But due to technical limitations, such as the consensus protocol, no blockchain has been able to solve this major limitation. The Acria Network solves exactly this problem with the help of so-called Oracle Nodes that don’t require a middleman. In addition to this, it offers cross-chain support to supply various blockchains with real-world data.
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ACRIA Price Live Data
The live ACRIA price today is $0.146027 USD with a 24-hour trading volume of $2,183.04 USD. We update our ACRIA to USD price in real-time. ACRIA is up 0.19% in the last 24 hours. The current CoinMarketCap ranking is #5225, with a live market cap of not available. The circulating supply is not available and a max. supply of 140,000,000 ACRIA coins.
The Acria Network has, in order to achieve all its goals, many design goals which will be outlined below.
Every single process has to be optimized to allow cross-chain communication with various different blockchains. On top of this, as many crypto currencies as possible should be use-able as collateral and therefore stake-able.
Easy to use
By allowing the user to use their preferred cryptocurrency as collateral we completely eliminate the hassle of acquiring the currency used by the network. In addition to this, every end-user program is optimized to be simple and as straightforward as possible to use.
Extensibility and Scalability
By design, the Acria Network is designed to allow the easy implementation of publicly available data by the initial distributor of that data. This guarantees that the network is always up to date with the needs of its users. On top of this it is able to keep the latency very low and the throughput high.
The Acria Token can be staked to earn rewards and at the same time increase the trustworthiness of the data provided.
Defi (Decentralized Finance)
Most Defi projects are confronted with the total lack of real-world data on the blockchain. The Acria Network aims to fuel those Defi projects with this desperately required real-world data.
Oracle nodes are an integral part of the Acria network. Oracles are so to say the link between on-chain data and off-chain data. Oracle nodes achieve this by supplying the blockchain with required real-world data such as exchange rates for various currencies or even the current population of various countries.
The Issue of Third Party Oracles as Middlemen
The existing solutions offered to provide blockchains with real-world data heavily rely on oracles which function as middlemen that only supply real-world data that is available via various APIs. This heavily limits the amount of data that can be utilized as well as the trustworthiness of the data provided via those solutions.
Most common oracles aggregate the data provided by middlemen from various sources into a single data set. This approach is more or less just a consensus algorithm and like other consensus algorithms, it is also susceptible to various attack vectors.
The Problem of decreasing Rewards
With every additional node providing the same set of data the reward for that data also decreases and therefore makes malicious actors more likely to occur. This is because an operator might be able to earn more by the one-time payoff due to misreporting than by the long term reward of honestly reporting the data.