Addressing Trust Challenges in Blockchain Oracles Using Asymmetric Byzantine Quorums

• URL: http://arxiv.org/abs/2401.00175v1
• Date: Sat, 30 Dec 2023 08:53:45 GMT
• Title: Addressing Trust Challenges in Blockchain Oracles Using Asymmetric Byzantine Quorums
• Authors: Fahad Rahman, Chafiq Titouna, Farid Nait-Abdesselam,
• Abstract summary: A third-party interface or what is known as an Oracle is needed to interact with the external world. The genuineness of the data sourced by these Oracles is paramount, as it directly influences the Byzantine's reliability, credibility, and scalability. A strategy rooted in fault tolerance phi is introduced to tackle these challenges. An autonomous system for sustainability and audibility, built on detection, is put forth.
• Score: 0.5461938536945723
• License: http://creativecommons.org/licenses/by/4.0/
• Abstract: 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 plays a crucial role by feeding extrinsic data into the Blockchain, ensuring that Smart Contracts operate accurately in real time. The Oracle problem arises from the inherent difficulty in verifying the truthfulness of the data sourced by these Oracles. The genuineness of a Blockchain Oracle is paramount, as it directly influences the Blockchain's reliability, credibility, and scalability. To tackle these challenges, a strategy rooted in Byzantine fault tolerance {\phi} is introduced. Furthermore, an autonomous system for sustainability and audibility, built on heuristic detection, is put forth. The effectiveness and precision of the proposed strategy outperformed existing methods using two real-world datasets, aimed to meet the authenticity standards for Blockchain Oracles.

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