Oracle and Data On-Chain

How does the oracle's "impossible triangle" constrain the development of decentralization?

This article will delve into three key oracle protocols: Chainlink, Pyth, and Flare.

Blockchain oracles have changed the way dApps access real-world data. Satoshi Club discusses decentralized APIs, Airnode, and the value that oracles can extract with API3.

This article will briefly analyze the financial situation of Chainlink and recent developments.

Oracles will continue to play an indispensable role in the next cycle of the crypto space, with greater development potential and market opportunities still worth exploring, such as off-chain computing scenarios, pricing of non-standard on-chain assets like NFTs, and the deep integration of AI/ML.

Oracles are the bridge that connects on-chain smart contracts with the off-chain world, serving as a means for smart contracts to access off-chain data. Without oracles, smart contracts can only utilize data generated on-chain and cannot access external data.

We mainly classify oracles based on three criteria (specific functions, data providers, data processing methods).

The risk of economic attacks in DeFi cannot be completely eliminated, and adding constraints to make the arbitrage space significantly smaller than the attacker's expected value is a method worth exploring.

One of the biggest concerns of the oracle problem is: how will DApps behave when invalid or corrupted data is imported into the blockchain?

Starting from first principles, truly understand the future development path of oracle machines.