“Polkadot Knowledge Graph"It is our entry-level article on Polkadot from zero to one. We try to start from the most basic part of Polkadot and provide you with a comprehensive understanding of Polkadot. Challenges, but we hope that through such efforts, everyone can correctly understand Polkadot, and people who do not know Polkadot can easily and quickly grasp Polkadot-related knowledge.picture。
Polkadot Knowledge Graph
"It is our entry-level article on Polkadot from zero to one. We try to start from the most basic part of Polkadot and provide you with a comprehensive understanding of Polkadot. Challenges, but we hope that through such efforts, everyone can correctly understand Polkadot, and people who do not know Polkadot can easily and quickly grasp Polkadot-related knowledge.
Today is the 66th issue of this column. The blockchain provides us with features such as decentralization, non-tampering, and traceability, but how to bring off-chain data to the chain has become the key, and the emergence of oracles has become a block One of the important tools for chain landingThe oracle machine was first proposed by Turing. A black box called an Oracle was added to the Turing machine to form an oracle machine (Oracle Machine). It can input information into the Turing machine system to help the Turing machine complete calculations. In reality, Oracle is more understood as a good source of information.。
In addition, Oracle also has the meaning of oracle, which comes from Greek mythology. It is said that when the people are in trouble, they will pray to the gods for an oracle, and the gods will make suggestions or prophecies for the people to help them solve the problem. question.
The oracle also has a similar role to the oracle, it is the data link between the blockchain and the outside world.
The oracle machine is a bridge for information interaction between the chain and the chain, and can help the blockchain obtain data outside the chain
In essence, it is a middleware for data call and access, which respectively solves the decision-making problem of "yes or no" and the functional problem of "how much data", thus realizing the access of smart contracts to external data and call.
In a blockchain context, oracles are a way of bringing real-world data onto the blockchain so that it can be used by decentralized applications.
Oracles serve a variety of purposes for application builders. For example:
1. Most stablecoin designs use oracles to feed in asset exchange rate data in order to peg their value to real-world currencies.
2. Synthetic assets use oracles as price information to determine whether the underlying Crypto is sufficient to secure a debt position.3. Prediction markets use oracles to determine the outcome of real-world events and determine the payout of the predicted share.。
4. Decentralized insurance marketplaces use oracles to obtain information on whether claims are valid.
Oracle solutions range from centralized trusted to decentralized game theory based.
On the centralized side, the oracle can be a single account that has the authority to determine the real data on the chain
On the decentralized end, a complex game of “chicken” can be played between various stakeholders at stake, and they risk being slashed if they don’t submit the same data as everyone else.A ChainlinkFeed Pallet was recently released that allows smart contract applications in Polkadot to access price reference data, available in the form of a Substrate Oracle Pallet.
The Polkadot network is booming and ecological projects are emerging one after another. The Polkadot Ecological Research Institute focuses on Polkadot ecological trends and grasps current trends. Reply to [Daily] to get the latest daily news summary of Polkadot ecology.
When using an oracle in your application, you should understand the benefits and risks associated with its particular model
https://t.me/polkadot_eri
. As the Polkadot ecosystem develops and oracle parachains emerge, this article will continue to be updated, comparing different solutions and the pros and cons of each.
https://mirror.xyz/0x9A259b3a2316281Cc948cE2Cf1Ac610a79844f05
