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Plugin (PLI) is a decentralized Oracle Platform that provides cost-effective solutions for smart contracts on the XinFin XDC Network ecosystem. It enables smart contracts to connect with real-time data while maintaining high security by aggregating feeds from multiple providers. The platform ensures trust and transparency through off-chain computation and offers a proof of staking reserve, allowing users to verify their stakes securely and transparently.
Plugin (PLI) is a decentralized Oracle Platform that provides cost-effective solutions to smart contracts running on the XinFin XDC Network Eco System. It enables smart contracts to connect with the real-time world by receiving data from multiple providers and aggregating it securely. This ensures that the data received from the data feed provider is trustworthy and maintains a high degree of security through off-chain computation.
To store Plugin (PLI) tokens, you have several options based on your needs and preferences:
Store on an ExchangeYou can hold your Plugin (PLI) on a centralized exchange (CEX). This provides convenient access to various investment products and features like spot and futures trading, staking, lending, and more. The exchange will securely hold your funds, but ensure you choose an exchange with strict security measures to protect your assets.
Use Non-Custodial WalletsFor maximum security, you can store Plugin (PLI) in a non-custodial or self-custodial wallet. This grants you full control over your private keys. You can use hardware wallets, Web3 wallets, or paper wallets. Be cautious, as losing your private keys may result in permanent loss of your Plugin (PLI).
Supported WalletsPlugin (PLI) is supported by various wallets, including D'CENT Mobile Wallet, which works on both iOS and Android, and other wallets available on different platforms.
Buying and StoringYou can buy Plugin (PLI) directly through a crypto wallet if supported, or purchase a more popular cryptocurrency and exchange it for Plugin (PLI) through your wallet or on a decentralized exchange. Ensure you follow the wallet's guidelines and store your private keys securely.
To buy Plugin (PLI) tokens, follow these steps:
Create an Account: Open a free account on a cryptocurrency exchange that supports Plugin (PLI) such as Coinbase, Bitrue, or KuCoin. You will need to provide identification and set up a secure password.
Choose a Payment Method: Select a payment method supported by the exchange, such as a credit/debit card, bank deposit, or peer-to-peer trading. Ensure you understand the fees associated with each method.
Fund Your Account: Deposit funds into your exchange account using your chosen payment method.
Select Plugin (PLI): Navigate to the exchange's trading platform and select Plugin (PLI) as the asset you want to purchase.
Place an Order: Choose the type of order you want to place, such as a market order, stop order, or limit order. Enter the amount of Plugin (PLI) you want to buy and confirm your order.
Store Your Tokens: Once your order is executed, your Plugin (PLI) tokens will be stored in your exchange wallet. You can also transfer them to a personal cryptocurrency wallet for added security.
Additionally, you can also buy Plugin (PLI) directly through a crypto wallet if it supports fiat-to-crypto purchases. Alternatively, you can buy a popular cryptocurrency like USDT and then exchange it for Plugin (PLI) on a decentralized exchange.
Plugin (PLI) is a decentralized oracle platform designed to provide reliable data feed solutions to smart contracts running on the XinFin XDC Network. The platform was founded by Vinod Khurana and Kapil Khurana, who leveraged off-chain computation to ensure high security and data reliability. The PLI token plays a crucial role in the ecosystem, serving as a means of payment for services, node operator rewards, and governance participation through staking.
Historically, the Plugin price has experienced significant fluctuations. It reached an all-time high of $0.9683 on November 10, 2021, and an all-time low of $0.0176 on July 20, 2023. The token's market capitalization and trading volume have also varied over time, reflecting the dynamic nature of the cryptocurrency market.
Despite these fluctuations, Plugin continues to operate as a decentralized oracle platform, providing essential data feed solutions to smart contracts within the XinFin XDC Network ecosystem. The project's focus on security and reliability has contributed to its ongoing presence in the cryptocurrency space.
The cryptocurrency Plugin (PLI) is built on the XDC Network and operates as a decentralized oracle system. This system acts as a bridge between blockchain applications and external data sources, ensuring that the data provided to smart contracts is trustworthy and up-to-date.
Key Features- Decentralized Oracle Platform: The Plugin (PLI) provides a low-cost solution for any smart contract on the XinFin platform, maintaining a high level of safety by linking the shared ledger to the real-time environment and guaranteeing trustworthy data from multiple suppliers.
- Off-Chain Computing: The platform supports off-chain computing by accepting and combining feeds from various suppliers, ensuring that the data it receives is reliable.
- Staking and Rewards: Node operators can stake a minimum of 2,000 PLI tokens to participate in the network and receive monthly rewards. The staking process involves approving a node and then staking the required tokens in the smart contract.
- Node Management: Node operators can manage their nodes, including unstaking and rebuilding nodes with new wallet addresses if needed. However, if a node is deactivated, the staked tokens cannot be withdrawn until the staking period is over, or a penalty will be imposed.
- Wallet Security: It is crucial to maintain the security of wallet addresses, as compromised or lost wallets cannot be updated, and staked tokens may be lost.
Plugin (PLI) is listed on several exchanges, including Bitrue, Bitmart, Probit, HitBTC, and Globiance, allowing users to purchase and trade the token easily. Additionally, users can buy PLI through a crypto wallet or decentralized exchange if supported.
Potential and RegulationPlugin (PLI) is considered to have great potential in the cryptocurrency market, particularly in 2024, and is fully regulated, similar to Chainlink. This regulation adds credibility and stability to the project, making it an attractive option for investors.
Overall, Plugin (PLI) offers a robust and secure decentralized oracle system that supports the XinFin ecosystem, providing a reliable and low-cost solution for smart contracts. Its staking mechanism and rewards incentivize node operators to participate in the network, ensuring the continued growth and stability of the project.
The token Plugin (PLI) has several strengths that make it a promising investment opportunity:
Decentralized Oracle Platform: Plugin is a decentralized Oracle platform that provides cost-effective solutions to smart contracts running on the XinFin XDC Network Eco System. This allows smart contracts to connect with the real-time world, ensuring trustable data from data feed providers while maintaining high security.
Off-Chain Computation: Plugin's off-chain computation feature aggregates data from multiple providers, ensuring that the data received is reliable and secure.
Yield Farming: Plugin offers yield farming opportunities with a staking requirement of 50,000 to 1 million PLI tokens, providing investors with a potential source of passive income.
Strong Technical Ranking: Plugin has received a strong short-term technical ranking of 71 from InvestorsObserver data analysis, indicating a positive outlook for the token.
Growing Community: Plugin has a growing community with official links to various social media platforms and a GitHub repository, indicating active development and engagement.
These strengths highlight Plugin's potential for growth and adoption in the decentralized finance (DeFi) space.
Plugin (PLI), as a decentralized oracle on the XDC network, is exposed to various financial risks. One significant risk is market volatility, which can lead to price fluctuations. For instance, the price of PLI has dropped by -14.19% in the last 7 days and -1.27% in the past 24 hours, indicating its susceptibility to market changes.
Another risk associated with PLI is smart contract vulnerabilities. As a decentralized oracle, PLI relies on smart contracts, which can be vulnerable to hacking incidents. This vulnerability can compromise the security and integrity of the oracle, leading to potential financial losses.
Additionally, PLI is also exposed to liquidity concentration risks. Decentralized exchanges (DEXs) play a crucial role in mitigating these risks, but the concentration of liquidity can still pose a threat to the stability of the token.
Overall, investors in PLI should be aware of these financial risks and take necessary precautions to manage their exposure.
- Vinod Khurana: Co-Founder of Plugin and CEO of Suvik Group, a Dubai-based FinTech entrepreneur with over four decades of experience in banking and finance.
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