NEST PROTOCOL: CREATING A BETTER AND TRANSPARENT NEST ECOSYSTEM THROUGH bloXrour’s BLOCKCHAIN DISTRIBUTION NETWORK
The nest protocol is known to be an oracle network that has the ability to proffer solutions to several oracle projects, it’s responsible for the provision of price decentralized information to decentralized finance services through the use of a mechanism that enables the interception of price information from off-chain to on-chain, providing solutions to issues and challenges faced by oracle projects.
Through the use of the NEST protocol, off-chain quotes are provided online with top-notch accuracy through its adoption of a system known as “quotation mining” which allows miners and users to provide accurate data with reduced risks. Nest protocol happens to be the foremost unrestricted substrate designed to cater for on-chain oracle activities and providing quotation solutions to miners, makers, verifiers, etc.
Nest protocol is saddled with the responsibility of establishing advanced decentralized oracle protocol, which is at the forefront of world oracle solution providers. Through its tested and proved-worthy ability, it has covered more than 400 quote providers and has actualized 50 successful trading pairs like the ETH/ USDT and YFI/ETH.
BloXroute EXPLAINED
BloXroute’s Blockchain Distribution Network (BDN) is one of the swiftest systems of data dissemination that is designed to foster the efficiency of transactions carried out on the chain. It is important to note that this network is being utilized by several Ethereum mining pools and their projects littered around the globe, as they are already tested and proven to be trusted. With BloXroute’s BDN, users are exposed to first-hand information on the latest blocks, as well as a speedy transaction that could beat the P2P network. Although the NEST protocol has an advanced design, it is still scalable by the Ethereum network. Therefore, BloXroute is designed to solve issues encountered by the network during its scaling activities.
BENEFITS OF THE NEST PROTOCOL AND BloXroute MERGER TO USERS ON THE NEST PROTOCOL ECOSYSTEM
The protocol intends to take advantage of the BloXroute Cloud-API for the satisfaction of users on its ecosystem in the following ways:
* Through this partnership, there will be higher chances for quote miners to be able to run ahead and be superior given that they get first-hand information on the block.
* It will avail miners the opportunity to advance their price authenticity, as will they have access to most current blockchain facts.
* Validators can leverage this partnership opportunity by gathering information about proximate transactions as well as make precise price predictions.
* This partnership will enable both quote miners and validators to spread transactions quickly to the Ethereum mining pool by upping their price efficiency. This way they have higher chances of being mined on by the latest blocks.
CONCLUSION
The NEST protocol seeks to partner with BloXroute in order to take maximum advantage of BloXroute’s Blockchain Distribution Network (BDN) technology. This is aimed towards creating and availing users and miners with authentic on-chain services, bringing its convenient and unrestricted service delivery into play, which when merged with the BDN of BloXroute will present users on the NEST ecosystem not just an environment free from centralization, but one that delivers transparent and efficient services.
