Webblen and Algoracle Partner to grow the Algorand Oracle Network

Published on
February 22, 2022

Carter Razink

Webblen Network Partners with Algoracle to allow developers to bridge web2 data to the blockchain.

The Webblen Network today announced that they have entered into a strategic partnership with Algoracle. The partnership will enable a suite of oracles on top of the Webblen Network, as well as broadcast information between the Algorand blockchain and Webblen Network.

Web3 applications are decentralized pieces of code that run automatically when a user pays a small fee. Blockchain (web3) technology, has seen a meteoric rise in adoption in recent years being adopted by large governments and corporations for new and innovative use cases. However, web3 applications that run on the blockchain have a problem - they can only use pre-existing information that is already stored on that blockchain.

For example, developers who want to create sports betting web3 applications would need access to game scores and statistics. However this data cannot be automatically sourced for web3 application as the data is not on blockchain.

Enter “oracles” — in order to access external information not directly on the blockchain, one must use an oracle to transfer the data onto the blockchain. Whether it’s sports scores or medical research, oracles are a mechanism for moving external data to the blockchain.

Algoracle is the premier oracle network on the Algorand blockchain as Carter Razink, the creator of the Webblen Network, explained:

“Algoracle has established themselves as a clear leader in the oracle space. Not only are they the primary Decentralized Oracle Network of the Algorand Network, but their technology and interoperability on top of the Webblen Network also provide the community social economy the information it needs to fulfill our mission of building more involved communities.”

Because of this partnership, developers looking to build their own applications using the Webblen Network’s open-sourced protocols, will soon be able to bring traditional data to the blockchain and create new web3 solutions in any industry.

“Algoracle is proud to provide oracle services to applications being built on the Algorand and Webblen networks.” Said Algoracle CEO Abdul Osman. “We feel that the data that we bring on the blockchain is an essential utility for the future growth and sustainability of web3 services that will be built on the blockchain.”

This partnership aligns two data powerhouses with the first decentralized social economy — Verida and Algoracle will provide the plumbing behind the first decentralized data economy, built on the Webblen Network.

ABOUT ALGORACLE

Algoracle’s purpose is to provide simple oracle solutions which assist dApps built on Algorand to access off-chain data securely, accurately, and quickly.

Algoracle is aiming to be one of the dominant open-source oracle networks on the blockchain in the decentralized data processing ecosystem.

ABOUT THE WEBBLEN NETWORK

The Webblen Network is a set of protocols developed by Webblen INC on Algorand to efficiently provide a solution for communities (both physically and digitally) to have an “easy-to-implement” solution to build social economies that rewards social behavior for positive outcomes.

The Webblen Network is the first decentralized social economy that rewards you for being involved in your community.

Explore local and virtual communities. Earn WBLN for being involved. Spend WBLN on community products, services, and digital assets.

ABOUT WEBBLEN INC

For the past 7 years, Webblen INC has been focused on developing sustainable technology and experiences to address this issue. With the availability of the WBLN token, the Webblen mobile app, the development of the Webblen Network, and the team’s focus on facilitating positive outcomes, this platform is in the position to empower anyone across the globe to meaningfully impact their community.

Media Contact

Nathaniel Thoreson

natejt@webblen.com