What is Decentralized Oracle (DEOR)? | DEOR Crypto Explained in Under 60 Seconds #Shorts

Decentralized Oracle (DEOR) is a decentralized oracle network that solves the problem of data bias and manipulation by aggregating multiple oracle sources.

The Decentralized Oracle Token (DEOR) is used to vote on the reputation of oracles, and as payment for the DEOR customized oracles. DEOR is the only token needed to interact with multiple oracles.

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DEOR provides oracle security in several ways, including a decentralized reputation system, secure data aggregation and secure oracle nodes.

Secure Data Aggregation - Data is obtained from multiple oracle systems, and the aggregated results are provided to the smart contract. This mitigates the impact of an abnormal oracle data source.

Reputation System (Voting) - DEOR holders can vote to decrease or increase an oracles reputation based on the reliability of the data provided. This provides an extra layer of security from oracle results.

Secure Oracle Node (Randomizer) - Voting oracles are selected by a randomizer, and their votes have a reputation score. Data is verified if the sum of the upvoting weight is over 70% of the total weight.

WEBSITE: https://www.deor.io/

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