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> trusted Oracles but why?! WHY?! i thought the whole point of this blockchain stuff was that there was no trust in any one entity/group of entities (aside fr
by lelbloster 9y ago
> trusted Oracles
but why?! WHY?!
i thought the whole point of this blockchain stuff was that there was no trust in any one entity/group of entities (aside from the chain itself)
as soon as you have "blockchain plus a few trusted people", does that not completely undermine the whole idea?
why not just have a few trusted people?
- jklepatch 9y agoA blockchain can only process its own data, no external api call allowed. Unfortunately a lot of interesting applications require access to external data. Thats what oracle are for. They import external data into the blockchains, embedded in transactions. Yes it does undermine the security model of the blockchain, but they are some work arounds. For example, you can have several oracles, and you can decided to only accept data that was provided by a majority of oracles, thus rejecting outliers.