Blockchain based Distributed Oracle in Time Sensitive Scenario
Langchen He, Tianyu Kang, Li Guo · 2021
Distributed oracle protocol is proposed to support on-chain transaction execution which depends on off-chain information without a trusted party as source. Although the commit-reveal mechanism based on commitment scheme used in distributed oracle protocol solve the problem of freeloading, it introduces a new one of availability, which is significant when information requester would like to obtain protocol output before expiration. To address the issue, we describe an architecture of distributed oracle protocol in time-sensitive scenario. Then we propose a new protocol which satisfies all requirements defined in the architecture by applying timed commitment scheme. Finally, a prototype program is implemented to evaluate additional cost caused by the core algorithm in new protocol, which shows that the cost is acceptable.