Since this post is coming back, and is a good essay at wondering if the Oracle Problem is more of a social problem than technical problem, a couple of notes :
#Chainlink
#Chainlink
https://twitter.com/danielselman/status/1163935855217696768
1/ When talking about the i/o problem, you rely on the accounting side of the oracle. Solving the Oracle problem is also about preventing the tempering of the input, not just making the source accountable. Also *Input* to the SC doesn’t mean the source of the Oracle (truth).
2/ Tracking bad oracle calls on the Blockchain is just a detection mechanism not a problem solver.
Just like everything before Bitcoin was detecting fraud of digital money not preventing/solving the double spending problem.
Just like everything before Bitcoin was detecting fraud of digital money not preventing/solving the double spending problem.
3/ A reputation system is far better than relying on community. It’s a system with economic incentive enabling prevention of bad inputs (input that does not represent the truth).
4/ Smart contracts are borderless. I don’t see suing an Oracle in court happening any time soon. And it defect the purpose of a smart contract.
5/ I don’t think the Oracle problem makes smart contracts unnecessary. Solving it just make them a lot more useful and trustworthy. Solving the problem ensure that the input will in fact represent the truth and be free of mistakes and not tempered with.
6/ Smart contracts can be used for far more than dispensing payment.
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