Oracle Architecture in the Blockchain Data Structure Management

Sobhani, Ali

doi:10.22034/apj.2023.705652

Oracle Architecture in the Blockchain Data Structure Management

Author

Ali Sobhani

Department of Electrical and Computer Engineering, North Tehran Branch, Islamic Azad University, Tehran, Iran

10.22034/apj.2023.705652

Abstract

Blockchain is a revolution in the field of information and communication technology, which was able to create outstanding developments in technology and the daily life of users and affect the internet payment process, by its benefits and applications. Investing in digital currencies has always been associated with a lot of risk due to the fact that their use is separate from the real world. Recently, this risk was largely covered by smart contracts. But the reality is that a smart contract without the use of strong information management systems like Oracle is often worthless. For the global adoption of blockchains, a reliable mechanism that facilitates communication between smart contracts and the outside world is critical. Without blockchain-based oracles, smart contracts are forced to rely solely on in-network information, which significantly limits their capabilities. Decentralized oracles have the potential to create security mechanisms that remove many systemic risks from the blockchain ecosystem. Blockchain oracles are one of the most important elements that make up the blocks, which operate with a safe, reliable function and without the need for mutual trust, to improve the blockchain ecosystem. In this article, we examined the application of Oracle architecture in the management of data structures in the field of blockchain.

Keywords

Oracle

Blockchain

Distributed Database

Architecture

Smart Contract

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