Winet was formed with an ambitious goal in mind: connecting smart contracts with any external data source. The team has been working hard to solve the “oracle problem,” or dealing with the fact that smart contracts are not connected to anything online.
The team calls their distributed network of mining node “witnesses,” who are rewarded for pushing external data into smart contracts and validating these transactions. For a deeper dive into the process, watch this explainer video:
Today,
That’s Tech Lead, Adán Sánchez de Pedro, in the video presenting the launch, who also just happened to be on RCast last week. Congratulations to the Witnet team!