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2022/06/24 10:27
Four Oracle machines
1. software Oracle
The software Oracle is connected to the Internet, and can access and transmit data and information from any third-party server or website in real time through API, such as commodity price, weather index, flight number, etc., and write them into the smart contract.
2. hardware Oracle
Hardware Oracle is widely used in IOT as electronic sensor and data collector. It converts physical events into digital values so that smart contracts can understand them. Bar code scanners, bank card POS machines, and medical devices that collect various medical data can all be used as hardware Oracle machines.
3. centralized Oracle
Centralized Oracle is a kind of Oracle with single data source, which is usually provided by trusted third parties such as the government or reputable companies. It can prevent data tampering and loss by separating the data from the untrusted operating system of the local device. However, the centralized data source also brings potential risks to smart contracts.
4. decentralized Oracle
Decentralized Oracle refers to the Oracle with distributed consensus mechanism, also known as consensus oracle. It gets data from multiple, rather than a single, external source, so it is more reliable and does not require trust. Based on the relevant research theories of Huawei lab, according to different data processing methods, decentralized Oracle machines can be divided into four categories:
Aggregation based processing method: multi data source aggregation eliminates the impact of a single malicious data, such as chainlink
Pledge based approach: require participants to hold assets to improve their credibility, such as band
Game theory based approach: provide non hostile economic incentives, such as nest
Reputation based processing method: restrict hostile nodes by reducing reputation, such as witnet
Compared with centralized Oracle, although the operation efficiency of decentralized Oracle is relatively low, it solves the problem of single node failure, so it is less likely to bring security risks. Due to risk concerns, most DFI applications prefer to run on decentralized Oracle machines.
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