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You're adding pointless layers of complexity without acknowledging the core problem: there's no way for a smart contract to know the true state of the real worl
by the_snooze 8y ago
You're adding pointless layers of complexity without acknowledging the core problem: there's no way for a smart contract to know the true state of the real world without having to trust someone to give it accurate information.
- gibsons77 8y agoAlso known as the oracle problem. Some platforms find solutions to this in a decentralized way, see Augur. The solutions to real world data being inputted into a blockchain is an economic one.
- decentralised 8y agoNot all transactions require the smart-contract to know about the off-chain world! The "oracle problem" is what I think you are referring to but I have a strong view that the problem of low quality data can be solved with existing mechanisms and tools. My favourite method to dealing with information quality is by providing incentives to good quality sources and having a method that allows a third-party (anyone with an account...) to submit a fraud proof.