Related papers: A Study of Blockchain Oracles
Blockchain is a form of distributed ledger technology (DLT) where data is shared among users connected over the internet. Transactions are data state changes on the blockchain that are permanently recorded in a secure and transparent way…
One fundamental limitation of blockchain-based smart contracts is that they execute in a closed environment. Thus, they only have access to data and functionality that is already on the blockchain, or is fed into the blockchain. Any…
The Bitcoin Network is a sophisticated accounting system that allows its underlying cryptocurrency to be trusted even in the absence of a reliable financial authority. Given its undeniable success, the technology, generally referred to as…
The blockchain oracle problem, which refers to the challenge of injecting reliable external data into decentralized systems, remains a fundamental limitation to the development of trustless applications. While recent years have seen a…
The public blockchain was originally conceived to process monetary transactions in a peer-to-peer network while preventing double-spending. It has since been extended to numerous other applications including execution of programs that exist…
Blockchain technology has seen adoption across various industries and the real estate sector is no exception. The traditional property leasing process guarantees no trust between parties, uses insecure communication channels, and forces…
The oracle problem refers to the inability of an agent to know if the information coming from an oracle is authentic and unbiased. In ancient times, philosophers and historians debated on how to evaluate, increase, and secure the…
A blockchain-based smart contract or a "smart contract" for short, is a computer program intended to digitally facilitate the negotiation or contractual terms directly between users when certain conditions are met. With the advance in…
As known, blockchains are traditionally blind to the real world. This implies the reliance on third parties called oracles when extrinsic data is needed for smart contracts. However, reintroducing trust and single point of failure, oracles…
Distributed Computing in Blockchain Technology (BCT) hinges on a trust assumption among independent nodes. Without a third-party interface or what is known as a Blockchain Oracle, it can not interact with the external world. This Oracle…
Blockchain has evolved into a platform for decentralized applications, with beneficial properties like high integrity, transparency, and resilience against censorship and tampering. However, blockchains are closed-world systems which do not…
Blockchain provides decentralization and trustlessness features for the Industrial Internet of Things (IIoT), which expands the application scenarios of IIoT. To address the problem that the blockchain cannot actively obtain off-chain data,…
Smart contracts have enabled a paradigm shift in computing by leveraging decentralized networks of trust to achieve consensus at scale. Oracle networks further extend the power of smart contracts by solving the so-called "oracle problem".…
Blockchain based systems allow various kinds of financial transactions to be executed in a decentralized manner. However, these systems often rely on a trusted third party (oracle) to get correct information about the real-world events,…
Thanks to built-in immutability and persistence, the blockchain is often seen as a promising technology to certify information. However, when the information does not originate from the blockchain itself, its correctness cannot be taken for…
The blockchain constitutes a technology-based, rather than social or regulation based, means to lower uncertainty about one another in order to exchange value. However, its use may very well also lead to increased complexity resulting from…
It is undeniable that artificial intelligence (AI) and blockchain concepts are spreading at a phenomenal rate. Both technologies have distinct degree of technological complexity and multi-dimensional business implications. However, a common…
The paper presents Pluralize a formal logical framework able to extend the execution of blockchain transactions to events coming from external oracles, like external time, sensor data, human-made declarations, etc. These events are by…
It is possible that powerful and potentially dangerous artificial intelligence (AI) might be developed in the future. An Oracle is a design which aims to restrain the impact of a potentially dangerous AI by restricting the agent to no…
With technological advances and the establishment of e-commerce models, business challenges have shifted to online platforms. The promise of embedding self-executing and autonomous programs into blockchain technologies has attracted…