Asymmetric Byzantine Quorum Approach to Resolve Trust Issues in Decentralized Blockchain Oracles | IEEE Conference Publication | IEEE Xplore

Asymmetric Byzantine Quorum Approach to Resolve Trust Issues in Decentralized Blockchain Oracles


Abstract:

In Blockchain technology, distributed computing is based on trust assumption among independent nodes. It cannot connect with the extrinsic world without third-party or in...Show More

Abstract:

In Blockchain technology, distributed computing is based on trust assumption among independent nodes. It cannot connect with the extrinsic world without third-party or interface called Blockchain Oracle. Blockchain Oracle is important as it provides external data to a blockchain network, enabling smart contracts to execute accuracy in real-time. This inability to verify the accuracy of the information gathered by Oracles is known as the Oracle problem. However, blockchain Oracle authenticity needs a transparent and reliable input stream for their execution as the efficiency of Blockchain Oracle directly affects the scalability of Blockchain. To address the aforesaid issues an approach based on Byzantine fault tolerance is proposed. Moreover, a spontaneous system for audit and accountability is also proposed based on heuristic-based detection. The efficiency and accuracy of the proposed approach are compared with the existing solutions using two real datasets to fulfill Blockchain Oracle authenticity requirements.
Date of Conference: 21-23 September 2023
Date Added to IEEE Xplore: 10 October 2023
Print on Demand(PoD) ISBN:979-8-3503-0107-6
Electronic ISSN: 1847-358X
Conference Location: Split, Croatia

References

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