Today’s smart contract development ecosystem is one where individual developers struggle to access off-chain data necessary for interacting with the world outside of the blockchain. Currently, a smart contract can only access the limited data found on its blockchain.
The Zap Project is solving one of the biggest challenges in the blockchain industry – the need for oracles that can provide smart contracts with access to off-chain data. October 21st marks the launch of the token distribution event for ZAP. ZAP tokens give holders the ability to create data feeds that can be monetized and integrated into smart contracts.
“The applications of ZAP-powered oracles are myriad,” said Nick Spanos, co-creator of the Zap Project and founder of Bitcoin Center NYC. “Decentralized derivatives, smart contracts tied to crop yield measurements, your car paying you to drive it, self-executable wills – ZAP not only makes all of this possible, it makes it easy.”
By making oracle creation simple, the Zap Project marks the next phase in mainstream adoption of smart contracts. The ZAP token distribution event will further product development and spur innovation to streamline the smart contract ecosystem.
The Zap.Store provides a platform where developers can discover existing oracles and data providers can publish new ones. With ZAP, all parties to a smart contract can agree on the source of data and have faith that the data is delivered. By leveraging competitive market dynamics to incentivize oracle creation, ZAP is a novel solution for securing data sources for the next generation of blockchain innovation.
More information on Zap Project and the token distribution event can be found at www.zap.store.