From Oracles to Trustworthy Data On-Chaining Systems

Abstract

Many blockchain transactions require blockchain-external data sources to provide data. Oracle systems have been proposed as a link between blockchains and blockchain-external resources. However, these Oracle systems vary greatly in assumptions and applicability and each system addresses the challenge of data on-chaining partly. We argue that Data On-chaining must be done in a trustworthy manner and, as a first contribution, define a set of key requirements for Trustworthy Data On-chaining. Further, we provide an in-depth assessment and comparison of state-of-the-art Oracle systems with regards to these requirements. This differentiation pinpoints the need for a uniform understanding of and directions for future research on Trustworthy Data On-chaining.