Addressing Trust Challenges in Blockchain Oracles Using Asymmetric Byzantine Quorums

TL;DR

This paper proposes a novel Byzantine fault-tolerant strategy for Blockchain Oracles, enhancing trustworthiness and reliability in external data sourcing for smart contracts, validated through real-world datasets.

Contribution

It introduces an asymmetric Byzantine quorum approach combined with heuristic detection to improve Oracle trustworthiness and audibility in blockchain systems.

Findings

Outperforms existing methods in accuracy and reliability

Effective in real-world data scenarios

Enhances trust and scalability of Blockchain Oracles

Abstract

Distributed Computing in Blockchain Technology (BCT) hinges on a trust assumption among independent nodes. Without a third-party interface or what is known as a Blockchain Oracle, it can not interact with the external world. This Oracle plays a crucial role by feeding extrinsic data into the Blockchain, ensuring that Smart Contracts operate accurately in real time. The Oracle problem arises from the inherent difficulty in verifying the truthfulness of the data sourced by these Oracles. The genuineness of a Blockchain Oracle is paramount, as it directly influences the Blockchain's reliability, credibility, and scalability. To tackle these challenges, a strategy rooted in Byzantine fault tolerance {\phi} is introduced. Furthermore, an autonomous system for sustainability and audibility, built on heuristic detection, is put forth. The effectiveness and precision of the proposed strategy outperformed existing methods using two real-world datasets, aimed to meet the authenticity standards for Blockchain Oracles.