🧇 Add info on oracles

This commit is contained in:
bt3gl 2022-09-21 19:02:05 -07:00 committed by GitHub
parent cdf36c080b
commit b9f18b1317
No known key found for this signature in database
GPG key ID: 4AEE18F83AFDEB23

23
Oracles/README.md Normal file
View file

@ -0,0 +1,23 @@
## Oracles
<br>
* Oracles provide a trustless way of getting extrinsic (off-chain) information.
* They provide the some key functions such as collect data from an off-chain source, transfer the data on-chain with a signed message, and make the data available by putting it in a smart contracts storage.
<br>
### ChainLink
A decentralized oracle network consisting of three key smart contracts:
* a reputation contract: keep track of data providers' performance.
* an order-matching contract: selects bids from oracles using the reputation contract.
* an aggregation contract—and an off-chain registry of data providers.
One of the main challenges with such a decentralized approach is the formulation of the aggregation function.
ChainLink proposes calculating a weighted response, allowing a validity score to be reported for each oracle response.