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I like the idea that the chain can be used as the source of truth when other sources of truth have failed us. first 15 minutes of this https://www.youtube.com/w

• acdha 5y ago
  This is disproving the claim: once you introduce oracles, you are acknowledging that the trust of the system comes from outside the chain.
  • cdiddy2 5y ago
    that will always be the case for anything off chain. the question is do oracles and well constructed systems provide better data than what we have access to today
    • acdha 5y ago
      And the answer is no, because anything which can be done to improve the trusted third-parties can be done more efficiently without the extra overhead of a blockchain. Blockchains require expensive always-on networks whereas many operations can run with much lower data requirements and even work entirely offline.
      • cdiddy2 5y ago
        but it adds verifiability and immutability that others can't offer
        • acdha 5y ago
          You can do that using public-key cryptography much cheaper, without depending on a massive network and expensive processing fees. The only time a blockchain can make sense is if the parties don’t know or trust each other, and by definition you’re trusting an oracle.