witnet logo download PNG or SVG

Information about witnet

Witnet is a blockchain-based decentralized oracle network that aims to connect smart contracts with real-world data. It serves as a bridge between smart contracts and external data sources, allowing the implementation of real-world information into blockchain applications. By doing so, Witnet aims to address the issue of trust and reliability in obtaining data for decentralized applications.

Witnet has its native cryptocurrency called "Wit" (WIT), which is used as the utility token within the platform. Wit tokens are used for data requesters to submit a request for data and as rewards for Witnet miners who provide accurate data. The Wit token can also be staked by token holders to participate in the network's governance process.

The primary goal of the Witnet project is to provide accurate and tamper-proof data to blockchain applications, ensuring the reliability and security of smart contracts. By decentralizing the data verification process, Witnet aims to eliminate single points of failure and increase transparency in data retrieval.

As a decentralized oracle network, Witnet enables applications to fetch real-world data from multiple sources, ensuring its authenticity through a decentralized network of validators. The network operates on a proof-of-stake consensus mechanism, where participants stake their tokens and participate in the data validation process, making it resistant to malicious attacks and providing reliable data to applications relying on it.

For those who want to download the Witnet logo, we have compiled a list of all the major cryptocurrencies in PNG and SVG format. Our collection includes logos for Bitcoin, Ethereum, Litecoin, Ripple, Dash, Monero, Zcash, and many more. All of them are available in PNG format. And if you want to show support for one of the cryptocurrencies, our collection of logos is at your disposal, including the Witnet logo.