Oracles
Goals
- Reduce Risk, Growth
Background and strategic fit
An Oracle is a trusted contract/program that produces a result with some reliability. In Ethereum, Oracles watch the blockchain for events and respond to them by publishing the the results of a query back to the smart contract. When smart contracts need to interact with the 'off-chain world', Oracles can provide these results back to the blockchain. Oracles can be used in Trusts or Escrows. For example, a Trust contract will hold monies until an Oracle indicates that a condition in the trust contract has been met.
Assumptions
Requirements
| # | Title | User Story | Importance | Notes |
|---|---|---|---|---|
| 1 | Operates on and off the blockchain | As a contract developer, I require the ability to check if an external condition has been met so that my contract can execute to completion | Must Have | |
| 2 | Trusted Oracle | As a contract developer, I have to know how much I can trust any given Oracle so that I can trust the data it returns. | Must Have |
User interaction and design
Questions
Below is a list of questions to be addressed as a result of this requirements document:
| Question | Outcome |
|---|---|
| Oracle Trust will be determined via reputation in addition to type check? |