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As DennisP said, yes there are mechanisms to ensure date is agreed upon. Your question of "consensus" brings up other interesting points. I think an increasing
by _red 9y ago
As DennisP said, yes there are mechanisms to ensure date is agreed upon.
Your question of "consensus" brings up other interesting points. I think an increasingly valuable service in a new smart-contract world will be to have an "Outcomes As A Service" arbiter. This would be a trusted 3rd party that publishes real-world outcomes in a method that can be accessed reliably via smart contracts.
Who will win the football game between Dallas and New Orleans on Nov 22, 2019? Who is winner of 2020 Presidential Election? etc....Essentially a service that you can tell them you want to track some real-world event and publish outcome for use in smart-contracts. Obviously this 3rd party would need to be transparent, have an open appeal process, be neutral and earning income not tied to outcome, etc.
What happens to gaming laws (and cities like Las Vegas), in a world where sports betting can be done with no middle-man needed?
- AlphaWeaver 9y agoServices like Oracleize already allow you to do something similar to this.
- edf13 9y agoThis is the main problem I see with smart contracts (Even with oracles?)... How do the nodes running the code all get the same response from an external data source? Even if they use a service such as oraclize if the contract calls https://api/query?param1 https://api/query?param1 and it returns lets say the weather: Node1 gets: 15.2c Node2 gets: 15.3c We've already failed on consensus haven't we?
- DennisP 9y agoThe nodes don't all separately query the source. Instead, someone queries the source and sends a transaction to the network, with the data and the source's signature. The transaction gets incorporated into a block, updates the state, and now everybody has the same data.