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Watcher (OMG Foundation)

Give me the basics

Watcher is a decentralized autonomous organization (DAO) and the OMG Foundation’s first project. It aims to provide a solution for data providers and consumers, allowing them to access and monetize data in a secure and decentralized way. Watcher operates on the OMG network, using its blockchain technology to ensure transparency and immutability of data. By leveraging blockchain, Watcher enables data providers to share their data in a trustless environment, while consumers can access verified data without relying on centralized intermediaries.

In-depth explanation

Watcher is an initiative created by the OMG Foundation to help secure the Ethereum network. Watcher acts as a decentralized monitoring and reporting system that detects and prevents network attacks such as double-spending and 51% attacks. It is designed to be an open and transparent platform that provides real-time network data to help Ethereum stakeholders make informed decisions. By providing greater network visibility and early warning of potential threats, Watcher helps to maintain the integrity and security of the Ethereum blockchain.