A Voting-Based Blockchain Interoperability Oracle
This addresses the fragmentation issue in blockchain platforms, enabling interaction between heterogeneous systems, though it appears incremental as it builds on existing oracle concepts.
The paper tackles the problem of blockchain interoperability by proposing a voting-based oracle using threshold signatures, achieving significant cost savings compared to existing relay and oracle solutions.
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.