CountChain: A Decentralized Oracle Network for Counting Systems
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arXiv
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| Autores principales: | , , , , |
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| Formato: | Preprint |
| Publicado: |
2024
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| _version_ | 1866929551381102592 |
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| author | Nassirzadeh, Behkish Leonardos, Stefanos Heinle, Albert Hasan, Anwar Ganesh, Vijay |
| author_facet | Nassirzadeh, Behkish Leonardos, Stefanos Heinle, Albert Hasan, Anwar Ganesh, Vijay |
| contents | Blockchain integration in industries like online advertising is hindered by its connectivity limitations to off-chain data. These industries heavily rely on precise counting systems for collecting and analyzing off-chain data. This requires mechanisms, often called oracles, to feed off-chain data into smart contracts. However, current oracle solutions are ill-suited for counting systems since the oracles do not know when to expect the data, posing a significant challenge.
To address this, we present CountChain, a decentralized oracle network for counting systems. In CountChain, data is received by all oracle nodes, and any node can submit a proposition request. Each proposition contains enough data to evaluate the occurrence of an event. Only randomly selected nodes participate in a game to evaluate the truthfulness of each proposition by providing proof and some stake. Finally, the propositions with the outcome of True increment the counter in a smart contract. Thus, instead of a contract calling oracles for data, in CountChain, the oracles call a smart contract when the data is available. Furthermore, we present a formal analysis and experimental evaluation of the system's parameters on over half a million data points to obtain optimal system parameters. In such conditions, our game-theoretical analysis demonstrates that a Nash equilibrium exists wherein all rational parties participate with honesty. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2409_11592 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | CountChain: A Decentralized Oracle Network for Counting Systems Nassirzadeh, Behkish Leonardos, Stefanos Heinle, Albert Hasan, Anwar Ganesh, Vijay Cryptography and Security Distributed, Parallel, and Cluster Computing Computer Science and Game Theory Blockchain integration in industries like online advertising is hindered by its connectivity limitations to off-chain data. These industries heavily rely on precise counting systems for collecting and analyzing off-chain data. This requires mechanisms, often called oracles, to feed off-chain data into smart contracts. However, current oracle solutions are ill-suited for counting systems since the oracles do not know when to expect the data, posing a significant challenge. To address this, we present CountChain, a decentralized oracle network for counting systems. In CountChain, data is received by all oracle nodes, and any node can submit a proposition request. Each proposition contains enough data to evaluate the occurrence of an event. Only randomly selected nodes participate in a game to evaluate the truthfulness of each proposition by providing proof and some stake. Finally, the propositions with the outcome of True increment the counter in a smart contract. Thus, instead of a contract calling oracles for data, in CountChain, the oracles call a smart contract when the data is available. Furthermore, we present a formal analysis and experimental evaluation of the system's parameters on over half a million data points to obtain optimal system parameters. In such conditions, our game-theoretical analysis demonstrates that a Nash equilibrium exists wherein all rational parties participate with honesty. |
| title | CountChain: A Decentralized Oracle Network for Counting Systems |
| topic | Cryptography and Security Distributed, Parallel, and Cluster Computing Computer Science and Game Theory |
| url | https://arxiv.org/abs/2409.11592 |