January 28, 2022 - 3 min read
SupraOracles is pleased to announce its collaboration with MassBit, a one-stop solution for DeFi and Web3 cross-chain infrastructure based on Proof-of-Stake and economic incentives. MassBit’s objective is to provide an innovative infrastructure that makes DeFi and Web3 app creation faster, easier, more reliable, and less expensive. Products from MassBit include MassBit routes, cross-chain indexing, and MassBit insights.
The MassBit Explorer provides access to information about all major blockchain networks. To provide a completely decentralized solution, all workers across all products will use the MassBit protocol, commonly known as MassBit verification. The MassBit protocol is built on proof-of-stake and economic incentives, which implies that workers must stake before working, and all employees working on the same tasks have incentives to check on each other in order to earn greater rewards, ensuring that all workers operate honestly. This means that all workers on the MassBit route, including cross-indexing, will not act maliciously based on protocol assumptions. Based on the MassBit protocol, new types of workers that can create oracles for the supra-oracles project can be introduced.
Blockchain indexing is critical to the development of DeFi and Web3. MassBit offers the infrastructure for indexing data from various blockchains. As a result of this collaboration, SupraOracles will be able to extract oracles from cross-chain indexing and oracle-producing workers. To create decentralized gateways, MassBit collaborates with small API providers and validators. Validators receive more rewards and service additional DeFi and Web3 apps using MassBit, but they are also penalized if any nodes misbehave.
Minh Doan, CEO, and Co-founder of MassBit commented:
“We are glad to be working with SupraOracles to advance DeFi and Web3 applications. The competent staff at SupraOracles, as well as their devotion to providing the developers with a new Oracle toolset that will add considerable value to the development of the MassBit vision, have impressed us. We are excited about providing consumers with a brand-new DeFi and Web3 experience that will make development easier, faster, and less expensive.”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented:
“MassBit’s objective is to provide an innovative infrastructure that makes DeFi and Web3 app creation faster, simpler, more dependable, and less expensive. SupraOracles is thrilled to be a part of the upcoming DeFi and Web3 age. We are certain that MassBit will be able to meet their aim of offering new infrastructure as DeFi and Web3 continue to gain traction.”
SupraOracles is attempting to bridge the gap between traditional capital markets and the Web 3.0 environment. Our goal and driving objective is to provide a new Oracle toolset to the developer community so that they can easily construct, deploy, and manage data applications with superior performance, robustness, and agility.
Our team includes seasoned individuals with backgrounds in consensus mechanism design, randomness research, real-time data services, investment banking, digital securities, traditional stock exchanges, big data, Ph.D. academia, big 4 consulting, blockchain/DLT, and DeFi.
SupraOracles, in collaboration with our developer community and an increasing list of partners, intends to solve the Oracle issue and eventually power the future of finance.
MassBit is dedicated to providing fully decentralized solutions for DeFi and Web3 app project development. MassBit offers three solutions now: MassBit Route, Cross-chain Indexing, and MassBit Insights. It has many more in the works, enabling DeFi and Web3 apps to be quicker, more stable, scalable, and much less expensive. MassBit works to empower developers, companies, and end-users.
MassBit’s objective is to create a cutting-edge infrastructure that makes DeFi and Web3 development easier, quicker, and less expensive. They are working on decentralized APIs and cross-chain indexing.
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