Our first step was developing a platform for curating data feeds. Now that we have built a solid infrastructure, we're working with key partners to develop powerful data feeds capable of impacting the global economy. Zap is bridging the gap between real world data and diverse smart contract platforms.
Smart contracts allow the arbitrary redistribution of crypto capital. The biggest obstacle to the further growth of smart contracts is the need to receive data about the real world. If smart contracts could act based on any arbitrary data, the blockchain could truly encompass all global value. Zap allows data providers to profit from delivering valuable information to the blockchain. Zap allows smart contract developers to leverage real world data on the blockchain.
Zap is an additional layer added to Ethereum Blockchain which solves the oracle problem.
Zap is a set of tools that allow peers to exchange and monetize their data.
Zap is an access token for creating or accessing data from an oracle on the Zap platform.
Once you’ve entered into our ecosystem, you can mange everything. Anyone with a smartphone and an internet connection can participate in Zap's global platform.
Utilizing Zap's API, you can generate income off of any data or streaming service by creating an oracle out of it. Be at the forefront of a new generation of applications that are decentralized and powered by the blockchain. What kind of oracles do smart contracts need? Below are just a few examples
With help from our teams, contributors and advisors these are the milestones we are looking forward to achieve.
ZAPCore alpha complete
Market Contract: Accomplishes encrypted and monetized p2p data feed arbitration.
Oracle Proxy Contract: Proxy for pending oracle event responses and requests.
Oracle Binding Contract: Ledger of staked ZAP and generator of oracle DOTs.
ZAPClient in pre-alpha.
The first product ready to go live to all business
ZAPCore Live Beta: Fully functional beta built atop the ZAP token.
ZAP Provider SDK v1.0.
First Round of Featured Providers Integration.
ZAP Contracts and SDK Live Beta.
ZAP Contracts and SDK exit Beta.
Second Round of Featured Providers Integration.
Android app release.
Third Round of Featured Providers Integration.
First round of bounties for new oracles.
The Zap Team combines a passion for cryptoeconomics, blockchain expertise & proven record in leadership, development, smart contracts & oracles.
A smart contract is essentially a traditional legal contract but written in computer code. The benefit smart contracts create is that they execute automatically once certain pre-set conditions are met, drastically reducing transaction times and overhead costs. However, smart contracts can only receive information from within the blockchain, meaning they cannot be triggered by events that happen outside the blockchain on their own.
Oracles provide the connection between real world data and the blockchain. They turn external data into a format that smart contracts can understand. Through the use of oracles, smart contracts can be triggered by external events.
Zap.org is a platform that connects data providers with data seekers. It allows any data providers to become oracles and allows data seekers to subscribe to the data feeds of their choice.
No. Coding skills are not needed at any point at the marketplace, and you can both publish and subscribe data without coding skills. However, basic coding skills are required to create the smart contracts that utilize the oracles.
Zap is for everyone! Non-technical users or businesses can easily make money as data providers while technical users can benefit from the robust, real-time data feed oraclization backend in the discovery of profitable data feeds.
Subscribers pay data providers directly using cryptocurrencies such as ZAP, ETH, BTC, etc.
The Zap Store can support any appropriately formatted data feed. We envision data feeds from security/commodity/cryptocurrency exchanges, IoT devices, sports scores, and more.
No. All of the data feeds listed on the Zap Project will be wholly owned by the data provider. The Zap Project does not own any of the data feeds listed on the platform.
Data providers can choose to offer their feed(s) to subscribers at no cost. However, the data provider would still need to pay any applicable Ethereum network fees required for smart contract operation. If the data feed does not require any interaction with the blockchain (e.g. raw data, not oraclized) then there are no fees for subscriber or provider.
A Zap Pool is a collection of data feeds (oracles) that work together to create a more useful data feed. For example, rather than subscribing to many individual temperature feeds around a city, there may be a Zap Pool data feed for an average temperature reading for the entire city.
Zap Bounties are incentives for data providers to set up a specific data feed or form a Zap Pool. For example, if you need a certain data feed but there are no data providers offering such a feed, a data subscriber can post a bounty for one to be set up.
Zap was initially be built to work with Ethereum. However, we anticipate that future versions will provide oracle data that is compatible with additional smart contract platforms such as Rootstock, Lisk, Æternity, NEM, EOS, etc.
Initially the Zap Store will host IPFS nodes to store data feeds. As the Marketplace grows, there will be the option to host data feeds with other (third party) IPFS node providers. However, data providers will always have the option of hosting their data on their own IPFS node.
No. The Zap Store will use smart contracts to handle subscriptions and payments, but we envision many data feeds being valuable to subscribers outside of their possible use in a smart contract; e.g. a researcher purchasing an air quality measurements Zap Bundle data feed for a city.
ZAP tokens are used for market purchases and will be listed on secondary exchanges. They can be bonded in a "DOT Generator" smart contract for a set duration to obtain DOT tokens. These DOT tokens are a secondary token used to pay fees on the Zap platform. The DOT generator algorithm works as an insulator to volatility and mitigates fluctuations in the DOT price.
Web3 API enables our user interface to interact directly with users’ Ethereum wallets, eliminating the need to hold users' funds. IPFS provides a decentralized file storage mechanism. WebRTC provides real time P2P communication and routing of data.