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Developers in crypto know about the oracle problem better than anyone. It's not some sort of revelation. The oracle problem has been discussed ad nauseum within
by intotheabyss 5y ago
Developers in crypto know about the oracle problem better than anyone. It's not some sort of revelation. The oracle problem has been discussed ad nauseum within the community since at least 2011/2012.
- Slartie 5y agoIf that is so, then why are there still "developers in crypto" left? Shouldn't you expect from smart people that they eventually realize the conceptual infeasibility of what they are trying to accomplish?
- intotheabyss 5y agoWell the oracle problem has been solved for something as simple as price feeds. So today you can easily get price feeds from any pair of assets into the blockchain in a decentralized way. Why are there developers in crypto? Because it's very cool and interesting? I'm currently working on building applications for Starkware and layer 2 networks and I'm loving it. It's totally wild what you can do with programmable money, like https://alchemix.fi/ https://alchemix.fi/ where you can get loans that repay themselves by providing liquidity to yield aggregating protocols. Totally new way of thinking about money and value. I think it's funny when people think this is useless. I suspect they wouldnt be saying that if they actually developed applications on the EVM
- transpostmeta 5y agoIt's not infeasible. The smart contract in the block chain just pays a third party to access real world data. The business model of the oracle provider is to provide accurate data and get paid for it. It works well enough for data that is public.