WitSwap
  • Welcome
  • Why do we need eWIT?
  • How to get eWIT
  • Pathway to monetizing WIT token rewards
  • Minting & Redeeming eWIT
    • Custodian
    • Minting eWIT
    • Redeeming eWIT
    • Fees
    • For admins only
  • Liquidity provision for EWIT
    • Incentives
    • Staking LP tokens to receive incentives
  • About WitSwap
    • About WitSwap
    • WitSwap Tokenomics
  • How to use WitSwap
  • Smart Contracts
    • eWIT token contract address
    • Staking contract address
    • WitSwap token contract address
  • Other addresses
    • Deployer address
    • Custodian Witnet address
    • Custodian eWIT address
  • About Witnet
    • What is Witnet?
    • The Oracle Problem
    • The Solution: A Decentralized Oracle Network
    • Flow of the Protocol
    • Why isn't Witnet built on the Ethereum blockchain?
    • Retrieve-Attest-Deliver
    • Miners
    • Bridges
    • Consensus Mechanism: The Reputation System
    • Defense over Protocol Attacks
    • Witnet Token Distribution
    • FAQ about the WIT token
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  1. About Witnet

Flow of the Protocol

Source: https://witnet.io/about

PreviousThe Solution: A Decentralized Oracle NetworkNextWhy isn't Witnet built on the Ethereum blockchain?

Last updated 4 years ago

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The Witnet protocol runs a single purpose blockchain with a token called WIT, which relies on a P2P network. The nodes on the network are called witnesses, and are incentivised by the WIT token to:

  • Retrieve, Attest and Deliver data from any open API

  • Mine a block to be added in the blockchain

  • Be a bridge-node and connect the Witnet protocol to other protocols, such as Ethereum

Witnet-Ethereum flow

Because the Witnet blockchain is free, open, and neutral, and mine blocks on the Witnet blockchain. Every node maintains the history of all the transactions on the blockchain.

you can run your own node