INTRODUCTION
Today we will take you to a project that you have probably just heard or discovered today. Join us to explore the depths of this project and how it started. Above all let us explore its various benefits and products that we can use. SmartCryptoNews Presents " Hazel Navigation Guide "
WHAT IS HAZELWORD?
Hazel is a new generation of verifiable oracle machine based on Polkadot Ecosystem. It provides a data-driven prediction service based on the "asset-back event" and a data-correction mechanism based on fact checking. It support the on-chain operations with high-concurrency through consensus mechanisms, privacy protection and the interaction of on-chain and off-chain data.
See Diagram Below (courtesy of Hazel)
HAZEL PRODUCTS AND SERVICES
📌 It offers as decentralized market for event prediction for Market Prediction and Games
📌 It provides reasonable price of currencies, volatility and other information and giving support to Decentralized Finance
📌 It provides a Trading Platform for diverse event data to circulate freely
📌 It provides Information Analysis to judge the result of certain event that support the on-chain contract to automatically generates an evaluation system
OPERATING MECHANISM OF HAZEL
HAZEL aims to create a fully decentralized oracle machine without credit endorsement through pledging assets by data predictors. The core concept is to correct prediction data on events to make an infinite approach on off-chain real-data through the spontaneous arbitrage of the market
In Pledging of asset and data reporting, users can pledge the two-way assets for predicted events in the contract through portals such as Dapp and map the on-chain assets to the result of events. The oracle adopts quotations from miners and generates on-chain price by real-time of on-chain price provided by miners in the whole network
PRODUCT DEVELOPMENT AND FUTURE PLANS
📍FIRST QUARTER
✔️ Hazel complete the initial link between them and Polkadot with a smart contract
✔️ Created tools such as exchange/protocol codes for formats and standardization
✔️ Fully ensured the system will operate and conduct multiple internal audits throughout its development cycle
📍SECOND QUARTER—RELEASE OF TESTNET
🔶 Hazel will deploy key smart contracts in testnet to be able to deliver its smart contract connectivity
🔶 Hazel will conduct a multiple test in its operation to ensure safety and reasonable for the whole structure
🔶 It will also conduct an external test task and deliver nodes to the third-party auditor for reviews
*️⃣ AVAILABLE EVENTS ON HAZEL *️⃣
1️⃣ Releasing the full version of the main network services and launch Hazel
2️⃣ Issue task on hacker bounty and will be fully supported by the community to assist the development of its core product
3️⃣ Creating Dapp for its users to easily take their part to participate on its ecosystem
4️⃣ All its product will be supported by iOS, Android, as well as WEB
LIST OF HAZEL INVESTORS
💥 White Whale Capital
💥 Canace Capital
💥Sich Ventures
💥 AC Capital
💥 TODO BLOCK
💥 SSSNodes
💥 CatcherVC
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FRIENDLY REMINDER:
"We deliver these news article based on our own thorough research. We want to preserve some important information regarding the project that is presented in our column. We value our reader's opinion and appreciate your valued respect to us. The article above is not a financial advice and as we always say "Invest at your own risk and only invest what you an afford to lose"
