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arxiv 2111.10091 v1 pith:AY25MKXC submitted 2021-11-19 cs.CR cs.DC

A Voting-Based Blockchain Interoperability Oracle

classification cs.CR cs.DC
keywords blockchainoracleinteroperabilitysincesolutionsapproachcomparedonly
verification ladder T0 review T1 audit T2 compute T3 formal T4 reserved
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Today's blockchain landscape is severely fragmented as more and more heterogeneous blockchain platforms have been developed in recent years. These blockchain platforms are not able to interact with each other or with the outside world since only little emphasis is placed on the interoperability between them. Already proposed solutions for blockchain interoperability such as naive relay or oracle solutions are usually not broadly applicable since they are either too expensive to operate or very resource-intensive. For that reason, we propose a blockchain interoperability oracle that follows a voting-based approach based on threshold signatures. The oracle nodes generate a distributed private key to execute an off-chain aggregation mechanism to collectively respond to requests. Compared to state-of-the-art relay schemes, our approach does not incur any ongoing costs and since the on-chain component only needs to verify a single signature, we can achieve remarkable cost savings compared to conventional oracle solutions.

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