Witnet is specially designed for “autonomous” smart contracts — those that require a high degree of tamper resistance and shouldn’t leave space for manipulation.
Witnet can power most DeFi primitives like price feeds, stable coins, derivatives, etc., as well as acting as a reliable source of randomness for creating uniqueness in NFTs.
Technology
Being based on its own blockchain, Witnet is connected to multiple smart contract platforms through the use of bridges.
he Witnet blockchain is a single-purpose blockchain that has been built from scratch using the Rust programming language to address the particularities of the “oracle” use case (reliable and secure data providing).
Token utility
Gas fee: transactions on the Witnet blockchain require fees for occupying block space. Mining nodes earn WIT tokens for each block they get accepted by the network, as well as for including transactions into those blocks.
Payment for service: queries sent to the Witnet oracle need to pay the nodes resolving the requests using the WIT token.
Staking: node operators need to stake WIT tokens in their nodes to increase their chance to mine blocks and to get data requests assigned for them to resolve and take fees from.