(How) will Cardano use oracles to allow communication with external data sources?

I have been reading up on ChainLink lately, a project that is trying to create a decentralized oracles network that can be used to connect external data to blockchains (first just Ethereum but later others as well). I think this is a really interesting application, as it would mean using an orale doesn’t mean it’s a single point of failure any more. However, I’m not an engineer and am not able to fully grasp the technical aspects of the project and its potential vulnerabilities, and since the team doesn’t do any marketing at all (which I actually quite like) there’s not much information about it available (yet) that is understandable for non-engineers.

This really made me wonder if IOHK and Cardano have thought about this ‘oracle problem’ as well and if they maybe already have potential solutions for it, or maybe if they even see using a network like ChainLink could be beneficial for Cardano. Or will the new programming languages that are being designed for Cardano enable new opportunities for oracle-like functions that aren’t available on other blockchains, making a network like ChainLink obsolete from Cardano’s standpoint? Would love to learn more about this, thanks in advance!

1 Like

Moved to Developers category as more appropriate. Wish I had more to contribute to this, but no… :frowning:

2 Likes

Thanks for that, I just realized this category was more appropriate but I couldn’t edit it as my account was automatically frozen after my post. Perhaps because I’m relatively new and made two posts in a row?

Don’t think so but not sure TBH. Anyway keep posting and you’ll get more priveleges, like editing title and category of other people’s posts! :smile:

1 Like

I’m interested in this topic from sensors to oracles to chain-inter-com to smart contracts.

Ch.Hoskinson mentioned “trusted hardware” and “Hardware that can’t lie”.
AFAIK one use case is to move private keys offline from device to device, by guaranteeing that the sending device has deleted the key.
Another one should be to have sensors (devices) who can’t lie on their position and value (e.g. temperature)

But this sounds quite complicated and expensive. Therefore I like the idea of having a distributed system of sensors and oracles who offer

  • redundancy
  • decentralized majority
  • important decision factors
  • connection to real world

Hello @Undersearcher :slight_smile: Yes, the forum software has some protection for new people and posts.

If you do have any questions, please don’t hesitate to ask!

1 Like