Oracle Security pertains to the measures taken to ensure the reliability, accuracy, and tamper-resistance of data feeds provided by oracles to smart contracts. Oracles are external services that supply real-world data, such as asset prices or event outcomes, to blockchain networks. Compromised oracle data can lead to incorrect execution of smart contracts and significant financial losses.
Context
Oracle security is a critical area of focus for decentralized finance (DeFi) and other blockchain applications that rely on external data. News reports often detail incidents where faulty or manipulated oracle feeds have triggered exploits, prompting continuous efforts to develop more robust, decentralized, and cryptographically secured oracle solutions.
This research introduces a novel reward mechanism to prevent Sybil-like mirroring attacks in decentralized oracles, ensuring data integrity and fair compensation.
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