Despite the volatility of the cryptocurrency market, blockchain has attracted massive attention and gained unprecedented popularity over the past two years. The World Economic Forum even predicts that 10% of global GDP will be stored on blockchain by 2025. However, 10 years after Bitcoin started, people are still skeptical about the use cases in the blockchain. real world that blockchain can achieve.
Looking back, what are the most widely used Dapps today? Fundraising contracts, token exchanges, gambling games, pyramid schemes and CryptoKitties? Where the bragging revolutions in insurance, advertising, supply chain, identity, and more?
It turns out that blockchain currently has 2 inherent limitations that prevent real-world commercial use cases:
1. The issue of scalability, has been discussed extensively, with a lot of talent and ideas working on it – Plasma, Sharding, State Channel…
2. The Oracle problem, that no blockchain is completed in isolation from the rest of the world, it is little known and gets only minute attention compared to scalability. Solving the scalability problem will make blockchains usable for the public while solving the problem Oracle will make blockchains useful with new business models, use cases, and effects network more.
Oracle: What and why?
A smart contract is not a smart game at all, it is merely a set of tamper-proof agreements that will self-enforce according to predefined rules before being deployed on the blockchain. Their entire input comes from on-chain block data, with no direct access to off-chain information, especially the Internet, which means they are isolated from the outside real world.
Why? This is because the consensus mechanisms of the blockchain, the underlying virtual machine that executes contract code, are designed to be purely deterministic, regardless of space and time conditions – a node can join any node. at any time, synchronize and execute all transactions starting from block 1 and must have a consensus view. However, the real world and the Internet are not deterministic at all, querying the same API or visiting the same URL might return different results to you at different times. Therefore, external data can only be included in the blockchain as the data payload of the transaction.
Oracle comes to the rescue. In the context of blockchain, an oracle is a system that responds to requests from smart contracts that request external resources – e.g. exchange rates, geolocation metrics, results sports, weather data, random entropy, etc and provide feedback back to the string for the requester to use. Without oracle, it has been proven that smart contracts are of limited use.
More generally, the requirements may go beyond querying the data, Oracle may actually be required to perform arbitrary computations. This is also very useful because on-chain computation has internal time and cost limitations: (i) On-chain computation is thousands of times more expensive than off-chain computation i.e. gas costs for blockchain based on fees like Ethereum. (ii) Although with the Turing-Complete VM, one cannot run arbitrarily complex computational chains in a consensus round (i.e. in blocking time), this is due to the complexity of the validator. proof of validation verification and the complexity of the Ethereum chain on top to block the gas limit, currently set to 8 million. Seems like a big number, however, a simple SSTORE instruction costs 20K gas, so 8M gas isn’t really a big number.
Thus, as a short summary, Oracle can be classified into: (i) feed Oracle, which connects smart contracts with off-chain data. (ii) Oracle computes, powers smart contracts with cheaper and unfettered computing power by outsourcing compute-intensive tasks off-chain.
Then comes a new issue: since oracle is an external third party that is not governed by blockchain consensus, how can one trust Oracle’s honesty? The answer is simple: we don’t trust, we verify. There have been a number of orcale projects, centralized or decentralized, targeting data feeds or computation problems, some of them are Oraclize, Town Crier, Augur, Chainlink, Truebit… They have their pros and cons. own points, or even some fundamental flaws, which we will explain and compare in future articles.
What is DOS Network?
DOS Network (EASYecentralized Oracle Sservice -DOS) is a 2-layer blockchain-based “Decentralized Oracle Services” network that provides a real-time data origin solution and a compute oracle solution for the main blockchains. Just highlight some of the core features below:
Byzantine fault tolerant decentralized protocol
A trustless solution that has no single point of failure or downtime, with nodes running to and from quickly.
Near-real-time and verifiable results: Driven by a secure random engine built on Verifiable Random Function (Verifiable Random Function –VRF) and advanced coding principles, require that data or computation be performed and accepted off-chain but verifiable on-chain of the contract. The delay between receiving the request and sending the response back falls within two blocks – theoretically achievable.
Scalable at low cost
Thanks to pool consensus and off-chain consensus, the total data query throughput and computing power increases as more nodes join the DOS network.
Compatible with heterogeneous blockchains
With core protocols working in offline clients, it’s easy to support multiple public chains by adding off-chain adapters and low-level on-chain governance contracts.
With its designed token economic models and coding principles, it is highly incentivized for node runners to join the network early to earn Mining rewards and rapidly increase network capacity. The network is resistant to sybil attacks, with malicious nodes detected and their stakes confiscated and honest nodes always rewarded.
A feed marketplace could even be built to allow multiple premium (paid) data sources to sell their data services to smart contracts and monetize the traffic. blockchain. After supporting multiple (at least two) chains, then an upper layer application protocol can be designed on top of DOS NETWORK to support cross-chain contract calls!
DOS Network is being built by a group based in Silicon Valley, USA. With engineers who are former employees of Google, Amazon, Pure Storage, Carnegie Mellon University, etc., team members have experience and understanding of distributed systems, consensus protocols, and smart contract development. blockchain.
DOS Network launched in 2018, in Q1/2019 will launch testnet.
English Telegram: https://t.me/dosnetwork_en
China Telegram: https://t.me/dosnetwork_cn
According to Tapchibitcoin.vn
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