My Authors
Read all threads
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 :

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.
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.
Missing some Tweet in this thread? You can try to force a refresh.

Keep Current with Kevin Bélanger

Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!