Overview of Blockchain Oracle Research

Caldarelli, Giulio

doi:10.3390/fi14060175

Cited by 22 publications

(14 citation statements)

References 172 publications

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“…For example, most blockchain oracles incur economic costs, thus needing strict monitoring to maximize their efficiency and reduce costs. However, oracle-oriented services may have limited compatibility with other services or limited functionalities [25].…”

Section: Smart Contracts and Oraclesmentioning

confidence: 99%

Industrial Data Homogenization and Monitoring Scheme with Blockchain Oracles

Stefanescu

Galán-García²,

Montalvillo-Mendizabal

et al. 2023

Smart Cities

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Research efforts on Distributed Ledger Technologies (DLTs) for industrial applications have constantly been increasing over the last years. The use of DLTs in the Industry 4.0 paradigm provides traceability, integrity, and immutability of the generated industrial data. However, Industry 4.0 ecosystems are typically composed of multiple smart factory clusters belonging to several companies, which are immersed in constant interaction with other business partners, clients, or suppliers. In such complex ecosystems, multiple DLTs are necessarily employed to maintain the integrity of the data throughout the whole process, from when the data is generated until it is processed at higher levels. Moreover, industrial data is commonly heterogeneous, which causes compatibility issues, along with security and efficiency issues in the homogenization process. Thus, the data needs to be pre-processed and homogenized in a secure manner before being exploited. Consequently, in this work, we address the issues mentioned above by providing an industrial raw data pre-processing and homogenization process according to a standard data model. We employ decentralized blockchain oracles to guarantee the integrity of the external data during the homogenization process. Hereafter, we design an interoperable plant blockchain for trustworthy storage and processing of the resulting homogenized data across several industrial plants. We also present a prototype implementation of the aforementioned scheme and discuss its effectiveness. Finally, we design a monitoring scheme to overview the usage the performance of the architecture processes and identify possible performance and security issues.

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Section: Smart Contracts and Oraclesmentioning

confidence: 99%

Industrial Data Homogenization and Monitoring Scheme with Blockchain Oracles

Stefanescu

Galán-García²,

Montalvillo-Mendizabal

et al. 2023

Smart Cities

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“…The main objective of an oracle is to prove that the collected data has not been tampered with before gathering. They interact with smart contracts on the blockchain for purposes of data processing [32] [33].…”

Section: Oraclesmentioning

confidence: 99%

Blockchain Technology and its Implication for the Financial Sector in Zambia

et al. 2022

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Blockchain is the technology that underlies Crypto Currencies and it is poised to revolutionise current existing business processes and models. Its impact is being felt in many spheres of the financial industry in many jurisdictions around the world. Transactions on the blockchain are validated by a network of participating nodes using proof of work or proof of stake algorithms. Security of the data is guaranteed by the application of cryptographic hash functions. The technology has the characteristic of delivering very secure, transparent and innovative financial products. This study presents a systematic literature review of blockchain technologies and their potential application in the financial sector with the view of identifying open challenges and opportunities that it can address in the Zambian Financial Sector Context. The focus of the study was limited to the finance, banking, insurance, tax, mortgages and fintech sectors. The findings of the research showed that the Zambian financial sector can benefit from applying blockchain in its operations. Key benefits to be derived include tamper-proof customer identity validation, guaranteed security and trust, reduction of operational costs, elimination of third parties in transaction processes, reduced financial risks and reliable data sharing and verification.

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“…Solutions have been proposed to address interactions between a Blockchain and the external environment. Caldarelli [10] provides an overview of the research on oracles, which allow the use of off-chain data in smart contracts. To the best of our knowledge, oracles are not capable of reliably pushing data out of the Blockchain, as required in our case.…”

Section: Related Workmentioning

confidence: 99%

Modeling Trust Relationships in Blockchain Applications: The Case of Reconfigurable Systems-on-Chip

Méré¹,

Jouault

Pallardy

et al. 2022

2022 IEEE 22nd International Conference on Software Quality, Reliability, and Security Companion (QRS-C)

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Nowadays, System-on-Chip (SoC) components are found everywhere in all kinds of smart devices. Each Systemon-Chip contains many different blocks that provide specific functionalities, such as WiFi or Bluetooth connectivity. Whereas integrating each such block in a SoC typically requires paying some royalties, not all blocks are necessary for all applications, or throughout a device's lifecycle. Moreover, it is not possible to manufacture a specific SoC for each application. Significant advantages are therefore expected to be gained by enabling trustworthy remote SoC reconfiguration throughout their life cycles. A few approaches attempting to address this challenge have been proposed in the literature. They are typically based on Blockchain technology in order to support decentralization without relinquishing trust. Reviewing these approaches lead us to identify a potential flaw in the proposed protocols. Indeed, a SoC should be able to trust Blockchain information that it is given, without requiring any centralization. In order to validate our suspicions, we propose in this paper to use Verifpal: a cryptographic protocol verification tool that works from textual protocol models. We use it in a slightly unorthodox way in order to model the trust relationships in one of the approaches from the literature, and to verify it. The results show that, under some assumptions, a flaw is indeed present. We propose and model several possible fixes, and present their respective limitations.

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Overview of Blockchain Oracle Research

Cited by 22 publications

References 172 publications

Industrial Data Homogenization and Monitoring Scheme with Blockchain Oracles

Industrial Data Homogenization and Monitoring Scheme with Blockchain Oracles

Blockchain Technology and its Implication for the Financial Sector in Zambia

Modeling Trust Relationships in Blockchain Applications: The Case of Reconfigurable Systems-on-Chip

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