Trust but Verify: The Oracle Paradox of Blockchain Smart Contracts

Volume: 35, Issue: 2, Pages: 1 - 16
Published: Mar 9, 2021
Abstract
Although research shows that blockchain provides fairly immutable virtual provenance workflows, proof that the blockchain accurately represents physical events lacks truly independent verification. This dilemma, the Oracle Paradox, challenges blockchain architecture and is perhaps one reason why businesses have hesitated to adopt smart contracts. Blockchain proponents claim that people can serve as trusted Oracles in a smart contract. However,...
Paper Details
Title
Trust but Verify: The Oracle Paradox of Blockchain Smart Contracts
Published Date
Mar 9, 2021
Volume
35
Issue
2
Pages
1 - 16
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