Witnet: A Decentralized Oracle Network Protocol
Ad\'an S\'anchez de Pedro, Daniele Levi, Luis Iv\'an Cuende

TL;DR
Witnet is a decentralized oracle network protocol that securely connects smart contracts to real-world data, using a reputation-based incentive system, sharding for scalability, and enabling a censorship-resistant digital knowledge archive.
Contribution
It introduces a novel reputation-based incentive mechanism, a sharding approach for scalability, and the integration with a decentralized storage network for an immutable knowledge archive.
Findings
Secure retrieval of web content with verifiable proof
Scalable sharding mechanism for efficient operations
Reputation system incentivizes honest participation
Abstract
Witnet is a decentralized oracle network (DON) that connects smart contracts to the outer world. Generally speaking, it allows any piece of software to retrieve the contents published at any web address at a certain point in time, with complete and verifiable proof of its integrity and without blindly trusting any third party. Witnet runs on a blockchain with a native protocol token (called Wit), which miners-called witnesses-earn by retrieving, attesting and delivering web contents for clients. On the other hand, clients spend Wit to pay witnesses for their Retrieve-Attest-Deliver (RAD) work. Witnesses also compete to mine blocks with considerable rewards, but Witnet mining power is proportional to their previous performance in terms of honesty and trustworthiness-this is, their reputation as witnesses. This creates a powerful incentive for witnesses to do their work honestly, protect…
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