Ares Protocol

Ares is an on-chain-verified oracle protocol that provides secure and reliable data services for the Polkadot DeFi ecosystem.

Whitepaper

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Interest lvl

Medium

Updated: May 17, 2023

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User Rating

Medium

3/5 • 2 votes

Ticker

ARES

Type

Utility-token

Token standard

ERC20

Registration year2020

Launchpads

Gate.io Startup

Ecosystems

Polkadot

What is Ares Protocol

Ares is a decentralized oracle solution, which realizes the on-chain and on-chain verification of oracle data. It provides secure and reliable data services for the interconnection and digital economy in the Web3.0 era. Under this agreement, all participants jointly maintain the security of the entire system for their own benefit.

As an open-source decentralized cross-chain oracle service protocol, Ares builds a decentralized data transaction ecosystem by introducing a token model and community governance. Data demanders can safely and effectively obtain off-chain data and allow high-quality Data providers to profit through on-chain governance and data transactions.

Ares conducts on-chain verification of the oracle data by introducing challengers and reputation committees and achieves the data’s finalization. Its principles are similar to the block production mechanism of Babe in Polkadot and Grandpa finalization, and it can be achieved through on-chain verification of data at a high level of safety.