Omniscient: The Universal Blockchain Oracle
Kristián Košťál, Igor Ďurica, Michal Ries · 2023
Applications that live on the blockchain do not have problems accessing data stored on-chain, even in cases where the data are stored on a different chain than the app itself. However, when a decentralized application needs data that are stored off-chain, issues arise. This paper delves into the ecosystem of blockchain oracles and explores some of its shortcomings, primarily regarding the variety of data they provide or, rather, the lack thereof. Most oracles currently only operate as price feeds for various digital assets. Our project deviates from this use case and instead focuses on allowing users to receive data from any off-chain API. We implement a universal oracle on the Solana blockchain, complete with a web application for users and a working oracle node implementation. We conclude that there currently is not a single existing oracle (except ours) that allows users to access any off-chain API of their choice without compromising performance, simplicity of integration, or decentralization. Our solution is fully decentralized and lets users create a subscription that will continue supplying off-chain data to their decentralized application without any further action on their part. We believe this solution will help fill in some of the gaps currently present in the ecosystem and satisfy a unique demand in the market.