Triple's Architecture

Triple Technology is a community-owned, decentralized Layer-2 Oracle solution. Triple uses a decentralized network of validators to fetch, compute, and agree on feeds off-chain.

One major issue with most current Oracle solutions is that their whole logic, storage, and transport is performed on Layer-1. This means that each data item is treated as a separate transaction, with the expenses fast accumulating and rendering practical use prohibitively expensive, if not impossible. The greatest Layer-1 Networks, for example, Bitcoin and Ethereum, cannot manage more than 20 transactions per second. Oracles cannot be comprehensive on merely Layer-1 since transaction throughput is so low.

This is why Triple Technology's decentralized oracles are built using an off-chain architecture. Our oracles are now faster, more authentic, and cryptographically provable. It also enables us to provide very comprehensive data points at a fraction of the cost of a Layer-1 transaction. Let's look at how Triple accomplishes all of this.

Faster: Because of Triple's Layer-2 network, Triple can process transactions significantly faster than other Oracles.

More authentic: Triple has a consensus structure in place where validators examine data for authenticity.

Cryptographically Verifiable: A cryptographic proof is appended to each data piece to ensure that it cannot be tampered with after being received by smart contracts.

A Layer-2 network ensures that data is at least one-twentieth the cost of a fully Layer-1 solution.

More Comprehensive: Because we are faster and less expensive, we can process more data points. This makes Triple Technology's data more current and includes long-tail and mid-tail data points.

Consensus

Consensus is the essential process through which the decentralized network of validators reaches a unanimous decision on the accurate value for a given data feed.

Employing a round-robin mechanism, validators are chosen as consensus leaders. These leaders assume the responsibility of assembling the data feeds that need to be retrieved. They procure these feed values from various Data Providers and ascertain the correct value for each feed.

Subsequently, the leader presents these data feeds to other validators, who then follow the same sequence of actions as the leader. If the obtained values fall within a predetermined threshold, validators provide their endorsement for the data feed.

Only data feeds that receive a sufficient number of endorsements are deemed valid within the Oracle