Decentralized Oracles: Providing Access to Key Off-chain Data Sources
summary
Decentralized oracle network called Chainlink is live in prototype form with several Chainlink nodes and published chainlinks that fetch market prices and delivery proofs; it uses multi-node aggregation for reliability (examples: two-of-two or configurable N-of-M redundancy) and plans hundreds to thousands of links. It integrates trusted execution via Intel SGX/Town Crier for signed attestations, RNG for lotteries, and private-key custody so contracts can trigger BTC or bank/PayPal payouts. Initial system works; audits and wider node rollout are underway.
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chapters (25)
- 0:00Intro
- 6:02Avoid this scenario
- 6:40Decentralization
- 11:21Chainlink contracts
- 12:13Pair of chains
- 12:45Defenseindepth approach
- 12:56Trusted execution environments
- 14:11Overview
- 15:44Benefits
- 16:32Initial Implementation
- 17:10Trusted Execution Environment
- 21:54Lottery Contracts
- 22:35Random Number Generation
- 23:23Decentralization Thesis
- 24:11Outgoing Payments
- 24:52EndtoEnd Reliability
- 26:41Reliability Determinism
- 28:32Market Dynamic
- 29:52SLA Contractors
- 31:38Key Management
- 33:43Execution Environments
- 34:09Intel SGX
- 36:19Decentralization Model
- 39:14Banking Partners
- 40:24Data Consumption
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