The New Oracle Project, Phoenix Global

In this post:

Businesses and developers need an agile, scalable, and decentralized solution for deploying the next generation of consumer applications. Internet businesses are exploring more innovative and creative ways of satisfying today’s data-driven tech consumers. 

The onset of blockchains, cryptocurrencies, and emerging technologies in artificial intelligence (AI) and machine learning (ML) has transitioned internet consumers from the standard Web 2.0 to the present Web 3.0. The former emphasize user-generated content, ease of use, participatory culture, and interoperability. On the other hand, Web 3.0 helps build and deploy more actionable, intelligent, connected, and open products. 

Phoenix Global is a platform that aims to do just that by deploying the next generation of decentralized consumer applications that are scalable, usable, and interconnected. Outstanding features of the platform include native blockchain bridges to the following blockchains; Solana, NEO, Binance Smart Chain, Tron, and Ethereum. 

The Phoenix Oracle is an outstanding feature that will come in handy when deploying enterprise dApp and DeFi use cases. You will find single-node data validation and on-chain agnostics that will finally make public blockchains interoperable. Federated learning ensures machines can learn about data using a unique training algorithm that teaches the blockchain more about data models. What would be the use of data in the decentralized environment if machines cannot learn and act upon the data? Simply federated learning is the decentralized form of machine learning. 

A significant application of the ecosystem is linking existing blockchains to real-world asset prices via Phoenix Oracles. This is in addition to supporting federated learning for AI and ML implementation of large datasets.

The Phoenix Global platform has a native token called the Phoenix Global token (PHB). This token functions as the primary incentive, powering access and payments within the platform. PHB token was initially designed on the NEO blockchain and had a supply of 3.5 Billion tokens. The token market capitalization has already hit $31.97 Million and is ranked at position 548 globally. 

Features and benefits of the PHB Oracle

Proprietary oracle 

Phoenix Global platform has an in-built connectivity bridge to real-world data. These will enable businesses and dApp developers to connect their products to outside datasets and systems quickly and conveniently through the proprietary integration middleware. 

Enterprise sidechains

The platform enables multiple sidechains to separate enterprise-level data points from the mainnet. Developers can scale their applications through these sidechains. 

Two-fold consensus

The two-fold consensus functionally comes in handy when transferring assets to and from the mainnet and side networks. The main benefits are boosting performance, efficiency, and agility when deploying consumer-based decentralized applications. 

Multi-layered contracts

dApp developers can store certain objects of their products off-chain through PHB’s multi-layered smart contracts feature. This brings more flexibility, ease, and scalability when deploying smart contracts. 

Data transaction protocols

Phoenix Global has an inbuilt data transaction engine that connects to a blockchain-based virtual machine to boost B2C transactions and enforce a trustless environment. Besides, the protocols also boost consumer data ownership, privacy, decentralized, encrypted data storage, and security across the platform. 

Benefits of the Phoenix Global Oracle project

  1. Phoenix Global powers the real economy by bridging real-world assets to blockchains. The platform unlocks more value for such assets and derives the full potential of actionable asset data such as price feeds. 
  2. Phoenix Oracle is built on the Binance Smart Chain, bringing more scalability, security, and robustness.
  3. The platform deploys blockchain agnostic-cross blockchain bridges. 
  4. Phoenix Global brings diverse blockchain coverage with applications cutting across various retail, financial services, lifestyle and luxury, travel, and automotive industries. The project can be used across marketing departments, customer relations management, customer experience, artificial intelligence, and consumer data.

Conclusion: A solution for the next generation of decentralized applications

The main focus of the Phoenix Global platform is to bridge the gap between decentralized blockchain and the real-world economy. Particularly given that most of the decentralized economy is based on virtual assets rather than physical assets. PHB founders envisioned unleashing the value of these physical assets by providing alternative data such as price feeds and helping developers deploy data-driven and actionable consumer applications.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Bitcoin Depot announces the creation of new Bitcoin (BTC) treasury (1)
Subscribe to CryptoPolitan