Orisi: Difference between revisions
Jump to navigation
Jump to search
No edit summary |
|||
| Line 1: | Line 1: | ||
Orisi is a distributed system which allows for more secure smart [[contracts]] to be created by relying on multiple oracles to detect changes outside of the [[block chain]]. [https://en.bitcoin.it/wiki/Contracts#Example_4:_Using_external_state Checking external state] is already possible with the standard Bitcoin system, but it relies on only one outside contact, an oracle, to check the validity of the given requirement. | Orisi is a distributed system which allows for more secure smart [[contracts]] to be created by relying on multiple [[oracles]] to detect changes outside of the [[block chain]]. [https://en.bitcoin.it/wiki/Contracts#Example_4:_Using_external_state Checking external state] is already possible with the standard Bitcoin system, but it relies on only one outside contact, an oracle, to check the validity of the given requirement. | ||
To mitigate the reliance on one possible vulnerable outside source, Orisi consists of a distributed network of oracles. For a contract to go through, the majority of oracles have to decide that the given conditions have been met. | To mitigate the reliance on one possible vulnerable outside source, Orisi consists of a distributed network of oracles. For a contract to go through, the majority of oracles have to decide that the given conditions have been met. | ||
Revision as of 13:34, 11 June 2014
Orisi is a distributed system which allows for more secure smart contracts to be created by relying on multiple oracles to detect changes outside of the block chain. Checking external state is already possible with the standard Bitcoin system, but it relies on only one outside contact, an oracle, to check the validity of the given requirement.
To mitigate the reliance on one possible vulnerable outside source, Orisi consists of a distributed network of oracles. For a contract to go through, the majority of oracles have to decide that the given conditions have been met.
Using outside sources to validate conditions can lead to a myriad of different uses, including [two-tiered arbitration].