Polkacipher Documentation
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Target Audience
Most of the oracle network is limited on the use-cases, while PolkaCipher's ecosystem has a much broader coverage. Through our business and p2p offerings, PolkaCipher can reach to the area of application that are essential to the economy, expanding use case for Privacy, DeFi, and NFT's. Some of them are:
- 1.Permissioned Community - NFTs can be used to allow access to the community through hashed time locked contracts based NFTs. Permissioned community will be first DAPP to be implemented on PolkaCipher's host of applications.
- 2.Governance - NFTs can be used to issue governance rights without obligation to hold tokens and can be transferred to other parties. Currently governance right are inherently flawed and usually taken over by early entrants of the project. When time is right, governance NFTs can be minted and auctioned to ensure a fair chance to all the current users of the platform/project to be able to have a chance to drive the project's future.
- 3.Prediction - Currently Prediction markets are controlled by centralized organization through black-box operations and non-transparency of the data. Using Our oracle we can generate non-tampered data which is open and transparent to reinvent the prediction markets.
- 4.Web-App Logins - Most apps being centralized are inherently vulnerable to hacks and attacks. Apart from all this you will have to remember the passwords for multiple applications that you use, followed by 2fa verifications. All this happens because of either security flaws or social hacking. Through our applications you can connect/disconnect to any applications that you use, either on-chain or off-chain, without storing data any data on the platform. All your data will be hashed on the chain and can be accessed through NFTs as a key. A true decentralized way to use internet.
- 5.Remote Wallet Access - Moving towards mass adoption, everything will be digital and so will be your wallets. Through PolkaCipher you can store your crypto in digital lockers and mint an NFT as a key. This key can be used to remotely access your wallet to make payments while keeping your assets safe. Users can have bunch of options, to enable direct withdrawals, set spend limits and whitelist sites to have an extra layer of security.
- 6.Store Purchases - Purchase anything from any store that accepts cryptocurrency as payment or mint your own gift cards to distribute to your users backed by PolkaCipher's stablecoin ecosystem and digital lockers.
- 7.Gaming - Due to the fact that the blockchain's current purely deterministic environment generates pseudo-random numbers, it is difficult to achieve absolute fairness when applied to gaming applications. PolkaCipher can inject a secure and reliable unbiased verifiable random source of entropy into the gaming contract from outside the chain.
- 8.Tracking - Through PolkaCipher, courier delivery or arrival information can be transmitted to the chain, triggering the automatic payment of the smart contract on the chain. For blockchain-based IoT applications, PolkaCipher can transmit sensor data from off-chain to on-chain, allowing the smart contract to verify and initiate the next action.
Last modified 1yr ago
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