Blockchain Consensus for Secure Smart Contract Oracle Activation
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Solution Overview
Problem
Smart contracts on blockchain lack autonomy and security due to reliance on trusted external agents for accessing external information, which reduces their effectiveness and usability.
Innovation Solution
A congress is formed on a blockchain network, allowing nodes to join with sufficient stake, enabling secure activation of scripts and providing external data through consensus among nodes, even in insecure messaging environments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If smart contracts rely on trusted external agents for accessing external information, then security is improved, but autonomy and usability deteriorate
Solution Approach 1:
The smart contract system performs self-verification by executing scripts that automatically validate external data sources and determine contract activation without requiring trusted external agents. The system autonomously assesses data reliability and executes contract clauses based on verified external information, eliminating dependency on trusted intermediaries while maintaining security.
Solution Approach 2:
The patent introduces an intermediary mechanism where the blockchain network itself acts as the mediator between smart contracts and external information sources. Instead of relying on trusted external agents, the system uses decentralized verification protocols and script execution within the blockchain to mediate data access, maintaining security while enabling autonomy.
2Reliability
If smart contracts rely on trusted external agents for accessing external information, then security is improved, but versatility deteriorates
Solution Approach 1:
The system enables versatile applications by allowing smart contracts to self-verify and execute autonomously across different external data sources without requiring trusted agents. The script execution mechanism can adapt to various data formats and external systems, providing versatility while maintaining security through decentralized verification.
Solution Approach 2:
The patent creates a universal framework where the same script execution and verification mechanism can serve multiple contract types and external data sources. The system's ability to execute diverse contract clauses and access various external information sources through standardized verification protocols provides multi-functionality and enhanced versatility.
3Adaptability or versatility
If nodes communicate in insecure messaging environments, then system flexibility is improved, but security deteriorates
Solution Approach 1:
The patent replaces traditional mechanical security measures (encrypted communication channels, authenticated messaging protocols) with cryptographic verification mechanisms embedded in the blockchain. Instead of securing the communication channel, the system verifies the integrity and authenticity of messages through script execution and consensus mechanisms, allowing flexible communication while maintaining security.
Solution Approach 2:
The blockchain network acts as an intermediary that provides security guarantees independent of the underlying communication protocol. The decentralized verification system mediates between flexible messaging requirements and security needs, allowing nodes to communicate in insecure environments while maintaining trust through cryptographic verification and consensus.
Data Source
AI summary
Techniques are presented relating to steps after a congress pool has accepted a request from a requester to activate a script. The steps include preparing, by a node, a blockchain transaction cryptographically locked with a public key associated with the congress pool, the blockchain transaction configured to permit a plurality of information providing systems to add inputs to the blockchain transaction; determining a centre point for data received from the plurality of information providing systems; and activating, by the node in cooperation with other nodes of the congress pool, the script based on the centre point.