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Unlike Ethereum, which was conceived as a general-purpose smart-contract platform, Bitcoin was designed primarily as a transaction ledger for its native currency, which limits programmability for conditional applications. This constraint is…
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,…
With the rapid development of blockchain technology in recent years, all kinds of blockchain-based applications have emerged. Among them, the decentralized finance (DeFi) is one of the most successful applications, which is regarded as the…
More than ten years ago the blockchain was acclaimed as the solution to overcome centralised trusted third parties for online payments. Through the years the crypto-movement changed and evolved, although decentralisation remained the core…
Nakamoto consensus, the protocol underlying Bitcoin, has the potential to secure a new class of systems which agree on non-mathematical truths. As an example of this capability, we propose a design for a trustless, data availability oracle.…
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…
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 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 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…
Bitcoin stands as a groundbreaking development in decentralized exchange throughout human history, enabling transactions without the need for intermediaries. By leveraging cryptographic proof mechanisms, Bitcoin eliminates the reliance on…
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…
Bitcoin is the first decentralized peer-to-peer (P2P) electronic currency. It was created in November 2008 by Satoshi Nakamoto. Nakamoto released the first implementation of the protocol in an open source client software and the genesis of…
Blockchains revolutionized centralized sectors like banking and finance by promoting decentralization and transparency. In a blockchain, information is transmitted through transactions issued by participants or applications. Miners…
This survey presents a comprehensive study of recent advances in block-chain technologies, focusing on how issues that affecting the enterprise adoption were progressively addressed from the original Bitcoin system to Ethereum, to Solana…
Blockchain is a decentralized ledger used to securely exchange digital currency, perform deals and transactions efficient manner, each user of the network has access to the least copy of the encrypted ledger so that they can validate a new…
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…
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…
Blockchain technology has set off a wave of decentralization in the world since its birth. The trust system constructed by blockchain technology based on cryptography algorithm and computing power provides a practical and powerful solution…
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…
Recently emerging Decentralized Finance (DeFi) takes the promise of cryptocurrencies a step further, leveraging their decentralized networks to transform traditional financial products into trustless and transparent protocols that run…