Smart Contract Data Feed Framework for Privacy-Preserving Oracle System on Blockchain

Smart Contract Data Feed Framework for Privacy-Preserving Oracle System on Blockchain

As blockchain-based applications and research such as cryptocurrency increase, an oracle problem to bring external data in the blockchain is emerging. Among the methods to solve the oracle problem, a method of configuring oracle based on TLS, an existing internet infrastructure, has been proposed. H...

Full description

Saved in:
Bibliographic Details
Published in:Computers (Basel) Vol. 10; no. 1; p. 7
Main Authors: Park, Junhoo, Kim, Hyekjin, Kim, Geunyoung, Ryou, Jaecheol
Format: Journal Article
Language:English
Published: Basel MDPI AG 01-01-2021
Subjects:
Authenticity
Automation
Blockchain
Cryptography
Decentralization
Digital currencies
Foreign exchange rates
Infrastructure
Language
Middleware
Oracle
Privacy
Protocol
Servers
smart contract
Verification
zk-SNARKs
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:As blockchain-based applications and research such as cryptocurrency increase, an oracle problem to bring external data in the blockchain is emerging. Among the methods to solve the oracle problem, a method of configuring oracle based on TLS, an existing internet infrastructure, has been proposed. However, these methods currently have the disadvantage of not supporting privacy protection for external data, and there are limitations in configuring the process of a smart contract based on external data verification for automation. To solve this problem, we propose a framework consisting of middleware of external source server, data prover, and verification contract. The framework converts the data signed in the web server into a proof that the owner can prove with zk-SNARKs and provides a smart contract that can verify this. Through these procedures, data owners not only protect their privacy by proving themselves, but they can also automate on-chain processing through smart contract verification. For the proposed framework, we create a proof using libsnark for server data and show the performance and cost to verify with Solidity the smart contract language of the Ethereum platform.
ISSN:2073-431X
2073-431X
DOI:10.3390/computers10010007