Nestprotocol.org Defi Review: Securing Decentralized Oracles

by Cws Team
A+A-
Reset

About Nestprotocol.org

The live Nestprotocol.org Protocol price today is $0.010448 USD with a 24-hour trading volume of $4,392,721 USD. NEST Protocol is up 1.61% in the last 24 hours. The current CoinMarketCap ranking is #602, with a live market cap of $20,953,465 USD. It has a circulating supply of 2,005,474,261 NEST coins and a max. supply of 10,000,000,000 NEST coins.

If you would like to know where to buy NEST Protocol, the top exchanges for trading in NEST Protocol are currently Huobi Global, CoinTiger, IDCM, BitZ, and Hotcoin Global. You can find others listed on the crypto exchanges page.NEST is a decentralized price oracle based on Ethereum.

Quick Fact About Nestprotocol.org

Nestprotocol.orgCoin Basic Information
DEFI Coin Name Nestprotocol.org
Short NameNEST
Circulating Supply2.01B NEST
Total Supply9,978,035,000
SourceClick Here To View Source
ExplorersClick Here To Visit
Twitter Group Click Here To Visit Twitter Group
DocumentationClick Here To View
Project Support24/7
Official Project Website Click Here To Visit Project Website

NEST quote verification mechanism

Anyone can become a verifier, verify the price of the quoted miner’s quotation, if there is a deviation between a single quotation and the market price, and there is a certain arbitrage space, then the verifier can take a single arbitrage. The specific verification rules are as follows:

1) The minimum number of validator orders is X * 10 ETH, where X must be an integer;

2) The validator needs to submit a new quotation at the same time as the order is submitted. The new quotation size requirement is the beta multiple of the size of the order, the current beta=2;(Note: If the verifier’s new offer deviates from the previous effective offer by more than 10%, then the new offer size will be x 10 times)

3) The new quotation initiated by the verifier has no quotation fee and does not participate in NEST mining;

4) The validator needs to pay a transaction fee of 0.1% of the amount of ETH paid while paying the bill;

NestNode Token

The NestNode is an important part of the NEST Protocol ecosystem. It provides various resources and funds for the early research and development of the NEST Protocol and is the core source of power for the development of NEST. At the same time, in the development of NEST, NestNode also enjoys some benefits and influence brought by NEST ecology, which is mainly reflected in the following two points:

1) **NEST Token Income Right: **In the NEST Token release allocation mechanism, miners account for 80%, developers account for 5% and guardian nodes account for 15%; it can be simply understood as: Quoted miners in the mining process, NEST For every 100 NEST Tokens released by the mining pool contract, 15 are allocated to the guardian node NestNode.

2) **NEST Protocol governance rights: **NestNode holders have the governance rights of the NEST system (initiating voting rights and voting rights).

In order to better reflect the decentralized characteristics of NEST Protocol, the NestNode is also a Token issued based on the Ethereum ERC20 protocol, with a total amount of 1500 (integer). The tokenized guardian node NestNode can freely conduct transactions and circulation, and the holder group is also distributed.

Risk Computable

All risk associated with NEST oracle prices can be computed by a predictable model which quantifies your risk. As possible deviation of NEST oracles are controllable, you can fully determine the risk when you make market, trade or build other applications on NEST oracles.

Verified Price Feed

All prices quoted are verified, therefore safeguarded by the open market. The verification step make sure the price feeds are accurate and up-to-date.

Secure

The fully on-chain open market system immunizes the single point of failure. The unique application of bi-directional option underwriting could raise up the cost of attack to infinity. Making the price oracles more secure and free of Sybil Attack.

Wider Participation

The NEST protocol provides a wider range of participation at each step of securing oracles. Democratizing the process enables everyone’s participation, including adding new price pairs. Everyone can quote an asset, verify prices and partake on-chain governance to decide the future direction of NEST.

coinworldstory logo

Coinworldstory Provide Crypto Review Including – Blockchain , Bitcoin , DEFI All About NFT &, Gaming , Cloud Mining ,Exchange , ICO, Ai , Crypto News All In One Place 

nexo 300x250

All Right Reserved. Designed and Developed by CWS TEAM 

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More