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Future Plans

Phase One​

Our goal is to achieve all the basic functions of current data feeding and verification solutions, in addition we will begin to build our array of non-traditional data sourcing options for Dapp builders to utilize and the functionality of a one-stop shop for data sourcing needs without manually calling each http.

Phase Two​

Our goal is build a cross-chain data querying and data structure tools just like the cross-chain version The Graph. It will be the absolutely necessary data infrastructure.

Phase Three​

As the maturity, stability and reach of the data marketplace begins to create opportunities for analytics, we will engineer analytics tools to extract meaningful data findings, patterns, interpretations, while implementing low-cost commercialization functionalities for the public.

Phase Four​

Finally, our ultimate goal is to provide an essential Open API and SDK from a high-level perspective with the above tools, fully powering the data economy.

Technology Integration​

The Cyptobit Network team is already looking toward furthering research in the field of decentralized Networks. Several solutions have already been identified as potential ways to increase the security and speed of the Cyptobit Network.

Zero-knowledge Submissions​

Zero-knowledge proofs (ZKP) allow for parties to prove that they know a value without revealing the value. For the Network, parties could submit a ZKP for the mining solution along with a hidden query value. Once the five parties are chosen as successful miners, they are then required to post the unhidden value (Network query) which corresponds to the hidden value submitted with the ZKP. This could help us save gas costs for submissions, prevent mirroring, and further incentivize miners to compete for the median value.

TLS Notary Proofs​

TLS Notary Proofs give assurances that a website was queried accurately and that no error was returned. The Cyptobit Network has plans to utilize different levels of assurances that can be returned (or stored) with the query to ensure that miners are accurately reporting data from the requested query.

Optimistic Implementation​

The implementation of a complementing non-mining network system that allows for data submission by any party for the data requests. This complementary system assumes data submitters have the best intentions. This optimistic approach can allow for disputes by requiring a PoS and/or can be based on submitter reputation. This implementation would be considered less secure and would cater to projects/Dapps/users that may not be time-sensitive and can “shop” around for data.

Automatic Reporting and Monitoring​

Off-chain analysis for detecting outliers and reporting these to “gain” the “bad” miner’s stake. For example, reporting a value/miner, if the mean differs from the median by a certain amount.

The Cyptobit Network provides a decentralized option for high-value off-chain data. Cyptobit Network plans to deploy our current contracts on the Cyptobit chain in the future and to continue research on creating a secure, scalable, and on-demand Network to help smart contracts achieve their true potential.