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A Study of Blockchain Oracles
March 19, 2020 Β· Declared Dead Β· π arXiv.org
"No code URL or promise found in abstract"
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Authors
Abdeljalil Beniiche
arXiv ID
2004.07140
Category
cs.CR: Cryptography & Security
Cross-listed
cs.DC
Citations
103
Venue
arXiv.org
Last Checked
4 months ago
Abstract
The limitation with smart contracts is that they cannot access external data which might be required to control the execution of business logic. Oracles can be used to provide external data to smart contracts. An oracle is an interface that delivers data from external data outside the blockchain to a smart contract to consume. Oracle can deliver different types of data depending on the industry and requirements. In this paper, we study and describe the widely used blockchain oracles. Then, we elaborate on his potential role, technical architecture, and design patterns. Finally, we discuss the human oracle and his key role in solving the truth problem by reaching a consensus about a certain inquiry and tasks.
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