Data Transmitter: What Is It? Everything You Need to Know
Acurast Data Transmitters are the processors of data and computation in a trusted execution environment on their hardware and earn rewards from the developers for successfully executing Jobs.
In today’s world, digital and analog data are being transmitted across business networks around the globe.
This article will provide some insights on data transmitter is and why off-chain data transfer is vital today, as a lot of developers need to bring off-chain data on-chain for the development of dapps.
Getting access to this off-chain data is a bit of problem.
What is a Data Transmitter?
It is not wide off the mark to state that every application and system available today uses data. To put it plainly, the application, company, or process put in place to get this Data off-chain is referred to as a Data transmitter.
Technically, in Acurast, Data Transmitters are the processors of data and computation in a trusted execution environment on their hardware. They earn rewards from the developers for successfully executing Jobs.
Importance of a Data Transmitters on Acurast
A Data Transmitter is the link between data or computation and the application of the data consumer.
The issue of getting data on-chain is a problem in the web3 space; however, solving this is the purpose of Acurast.
On Acurast, anyone can become a Data Transmitter; the only requirement is to have the necessary hardware available. As Acurast builds on multiple Trusted Execution Environments, this can be as easy as buying an Android smartphone and scanning a QR code for a setup within minutes.
What are the competitive advantages of Acurast
Is Acurast better and more efficient than other data oracles in the blockchain ecosystem? The answer is yes! Acurast has some features that make it stand out from other data oracles.
Verifiable Data: The process of how data are processed on the Acurast platform is verifiable. The Acurast platform is verifiable and secured through technology and cryptography, supporting the ideology of Web3. We don’t rely on one central party but one where decentralization is at the core.
Native Reputation System: Acurast marketplace has a system that rewards reliable data transmitters; this is done via a rating system. Data consumers are allowed to rate their experience with data transmitters.
Native Marketplace: Unlike other oracle protocols, Acurast is proposing a marketplace which is safe, secure, space for transmitters and developers. Developers can create job based on their needs, add rewards and find a data transmitter to execute.
Interoperability: Acurast is interoperable outside of one ecosystem. Acurast brings off-chain data and computation to Tezos, Polkadot, Kusama, and cosmos Network. Blockchain interoperability is based on cross-chain messaging protocols, which allow blockchains to read and write data to each other.
How does a data transmitter work on Acurast?
Let’s take a scenario of a Developer, whom we would name “Elon” for the purpose of this article.
Elon is trying to build a dapp, which is an open-source, decentralized lending platform built to securely borrow and lend digital assets via smart contracts that provides the “Kusama” community with the benefits of a decentralized financial applications.
However, for Elon to successfully build this DeFi project, he needs data in his smart contract like price feeds. Elon then writes a script that defines in-code his requirement such as from which API he want to get data from. Data Transmitters then run that script in their Acurast Trusted Virtual machine and put the result on Elon’s blockchain environment, ready to use within his application.
Elon is expected to get this data by paying a rewards to the Data Transmitters, which can be in any currency he defines and is accepted by the transmitter.
How to know the perfect Data Transmitter to use
Acurast, in particular, has onboarded a lot of Data Transmitters, and more will be added once the Acurast Marketplace is fully functional in Q1 of 2023, because anyone can become a Data Transmitter.
However, how can a developer know the perfect Data Transmitters to select for their project? That is where the Acurast Marketplace with its native rating system comes into place.
The Acurast Marketplace and the rating system will help guide developers, who are expected to choose the best Data Transmitter to build their dapps.
Acurast Oracle Data Transmitters
MadFish is a blockchain technology company that develops open-source projects for the DeFi ecosystem. Some of their products are Temple wallet, QuipuSwap, and Yupana.Finance. Madfish Believes that decentralized solutions will change the world.
Taurus Group SA operates as a financial services platform. The Company offers blockchain technology, security trading, treasury management, and reconciliation services. Taurus delivers its clients the infrastructure to manage ANY digital asset: cryptocurrencies, tokenized assets, and digital currencies, with one unified platform. It is a leader in Europe and Switzerland.