A Study of Blockchain Oracles
release_34ez7hbt7namvb4wfs5ch76cly
by
Abdeljalil Beniiche
2020
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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2004.07140v2
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