Trustworthy Blockchain Oracles: Review, Comparison, and Open Research Challenges
The essence of blockchain smart contracts lies in the execution of business logic code in a decentralized architecture in which the execution outcomes are trusted and agreed upon by all the executing nodes. Despite the decentralized and trustless architectures of the blockchain systems, smart contra...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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IEEE
2020-01-01
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| Series: | IEEE Access |
| Subjects: | |
| Online Access: | https://ieeexplore.ieee.org/document/9086815/ |
| _version_ | 1818875543914807296 |
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| author | Hamda Al-Breiki Muhammad Habib Ur Rehman Khaled Salah Davor Svetinovic |
| author_facet | Hamda Al-Breiki Muhammad Habib Ur Rehman Khaled Salah Davor Svetinovic |
| author_sort | Hamda Al-Breiki |
| collection | DOAJ |
| description | The essence of blockchain smart contracts lies in the execution of business logic code in a decentralized architecture in which the execution outcomes are trusted and agreed upon by all the executing nodes. Despite the decentralized and trustless architectures of the blockchain systems, smart contracts on their own cannot access data from the external world. Instead, smart contracts interact with off-chain external data sources, called oracles, whose primary job is to collect and provide data feeds and input to smart contracts. However, there is always risk of oracles providing corrupt, malicious, or inaccurate data. In this paper, we analyze and present the notion of trust in the oracles used in blockchain ecosystems. We analyze and compare trust-enabling features of the leading blockchain oracle approaches, techniques, and platforms. Moreover, we discuss open research challenges that should be addressed to ensure secure and trustworthy blockchain oracles. |
| first_indexed | 2024-12-19T13:28:10Z |
| format | Article |
| id | doaj.art-0ee4e1963eb04990b30b921f2c1766c9 |
| institution | Directory Open Access Journal |
| issn | 2169-3536 |
| language | English |
| last_indexed | 2024-12-19T13:28:10Z |
| publishDate | 2020-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Access |
| spelling | doaj.art-0ee4e1963eb04990b30b921f2c1766c92022-12-21T20:19:29ZengIEEEIEEE Access2169-35362020-01-018856758568510.1109/ACCESS.2020.29926989086815Trustworthy Blockchain Oracles: Review, Comparison, and Open Research ChallengesHamda Al-Breiki0https://orcid.org/0000-0001-8149-6711Muhammad Habib Ur Rehman1https://orcid.org/0000-0001-7428-2272Khaled Salah2https://orcid.org/0000-0002-2310-2558Davor Svetinovic3https://orcid.org/0000-0002-3020-9556Electrical Engineering and Computer Science, Khalifa University of Science and Technology, Abu Dhabi, United Arab EmiratesCenter for Cyber-Physical Systems, Khalifa University of Science and Technology, Abu Dhabi, United Arab EmiratesElectrical Engineering and Computer Science, Khalifa University of Science and Technology, Abu Dhabi, United Arab EmiratesElectrical Engineering and Computer Science, Khalifa University of Science and Technology, Abu Dhabi, United Arab EmiratesThe essence of blockchain smart contracts lies in the execution of business logic code in a decentralized architecture in which the execution outcomes are trusted and agreed upon by all the executing nodes. Despite the decentralized and trustless architectures of the blockchain systems, smart contracts on their own cannot access data from the external world. Instead, smart contracts interact with off-chain external data sources, called oracles, whose primary job is to collect and provide data feeds and input to smart contracts. However, there is always risk of oracles providing corrupt, malicious, or inaccurate data. In this paper, we analyze and present the notion of trust in the oracles used in blockchain ecosystems. We analyze and compare trust-enabling features of the leading blockchain oracle approaches, techniques, and platforms. Moreover, we discuss open research challenges that should be addressed to ensure secure and trustworthy blockchain oracles.https://ieeexplore.ieee.org/document/9086815/Blockchaindata attestationdecentralizationoraclessmart contracttrust |
| spellingShingle | Hamda Al-Breiki Muhammad Habib Ur Rehman Khaled Salah Davor Svetinovic Trustworthy Blockchain Oracles: Review, Comparison, and Open Research Challenges IEEE Access Blockchain data attestation decentralization oracles smart contract trust |
| title | Trustworthy Blockchain Oracles: Review, Comparison, and Open Research Challenges |
| title_full | Trustworthy Blockchain Oracles: Review, Comparison, and Open Research Challenges |
| title_fullStr | Trustworthy Blockchain Oracles: Review, Comparison, and Open Research Challenges |
| title_full_unstemmed | Trustworthy Blockchain Oracles: Review, Comparison, and Open Research Challenges |
| title_short | Trustworthy Blockchain Oracles: Review, Comparison, and Open Research Challenges |
| title_sort | trustworthy blockchain oracles review comparison and open research challenges |
| topic | Blockchain data attestation decentralization oracles smart contract trust |
| url | https://ieeexplore.ieee.org/document/9086815/ |
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