Discover and read the best of Twitter Threads about #oracles

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I see the (#ETH) public chain private chain debate the same way as centralized/internal #oracles and decentralized oracles (#LINK). Companies started using private chains, as it's easier to test with, it's private from the competition and they have higher throughput right now.
Endgoal is still public chain. This is very clear and specifically confirmed by market leaders like #EY's Paul Brody recently again, #Gartner and #Capgemini. The real value of immutable ledger and end-to-end secure smart contracts lies with the open, decentralized way.
It just takes time till companies can/should use public chain. Privacy is one condition to be met before this happens for example.

Just as these companies test around with private #ethereum chains, they test around with private/centralized smart oracles.
Read 6 tweets
The key value of #Blockchain is immutable state and censorship-resistant access to that state

Unfortunately state changes are limited to direct user inputs, which isn't ideal for contracts that affect multiple parties

This space is still missing the other half of the equation
What we're missing is a trust-minimized and provably secure off-chain agent that can reliably trigger a state change on the behalf of the contract's beneficiaries

Importantly, that state change can be based off of the real world data ALL traditional real-world contracts require
I think you know what I'm getting at

>>> Oracles <<<

The vast majority of useful #SmartContracts will need secure oracles as the data they require to execute is off-chain

#Oracles are the bridge between the on-chain world and the off-chain world

The gatekeeper so to speak
Read 14 tweets

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