Foreon Network Oracles: Trustworthy Cardano Oracles For Real World Data

[GENERAL] Name and surname of main applicant

Toshi Cardanomoto

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

Daniel Nguyen - Product Manager

Leo Pelekh - Architecture Manager

Dominic - Community Manager

[GENERAL] Requested funds in ada

50000

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

4

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Use latest industry standards to create a truly decentralized and trustworthy oracle specification and free software that implements it.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No Dependency

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] Please provide here more information on the open source status of your project outputs

Our Oracle contracts will be open sourced if funded

[METADATA] Horizons

Oracles

[SOLUTION] Please describe your proposed solution

An open source oracle software that exposes and archives the flow of information from real-world data sources (e.g. APIs, open datasets, reports), through oracle architecture stacks, and onto the Cardano blockchain.

We will develop an open-source, Cardano-native oracle.

This software will act as a pragmatic proof-of-concept for the specification as well as provide Cardano developers and oracle providers with a free and open source tool to deploy their own Foreon Oracle-based solution.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

The open source oracle will provide an authentic Oracle Datum that can be consumed on-chain.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

We have a track record of delivering clean and intuitive interfaces.

We have worked in collaboration with TXpipe to develop our initial contracts in aiken and we have also in partnership with a Cardano development firm utilizing agile methodologies to ensure faster turnaround times.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Draft the first Foreon Oracle Specification

Develop Version 1.0 of the Foreon Oracle Specification

Community consultation to define the most in-demand oracle endpoints for the first wave of Foreon oracle deployments

Publish the beta version of the Foreon Oracle reference implementation and deployed by at least one oracle operator external to the Foreon team

[RESOURCES] Who is in the project team and what are their roles?

Toshi Cardanomoto - Biz Dev & Co-Founder

Daniel Nguyen - Product Manager

Leo Pelekh - Architecture Manager

Dominic - Community Manager

Insy Som: Front-End Developer:

Milan Cheung: Full Stack / Blockchain Engineer: https://twitter.com/cryptox427

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

The requested budget is for wages and server expenses for the four months of the Foreon oracle project. This will deliver the first version of the Foreon Open Oracle Specification and the reference implementation MVP:

• 1 x Senior Architect
• 1 x Systems engineer
• 1 x Software developer
• Server and transaction fees:

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The budget has been carefully determined to maximize the impact and operational efficiency of the project.