fabio.karlino
11 months ago  Karma: 20
Will Loom DAppChains get rid of Oracles?

I'm developing a smart contract and in order to have a function called after a period of time I need to rely on off-chain resources. And it's the same for randomness. Now I'm using Oraclize but it has fees and it's not a completely decentralized solution. I was wondering if Loom DAppChains could offer a better solution. If yes, how?

en
#DApp
oracles
loomnetwork
fabio.karlino
11 months ago  Karma: 20
Will Loom DAppChains get rid of Oracles?

I'm developing a smart contract and in order to have a function called after a period of time I need to rely on off-chain resources. And it's the same for randomness. Now I'm using Oraclize but it has fees and it's not a completely decentralized solution. I was wondering if Loom DAppChains could offer a better solution. If yes, how?

en
#DApp
oracles
loomnetwork

ONE ANSWER
admin4
11 months ago Karma: 44

The concept of oracles remains, but you can more easily build oracles because you can changes the node software itself. For example, the Dappchain itself could be built to include an Ethereum light-client and send Ethereum data into the Dappchain itself. Oracles like this will be feeless in comparison with Oraclize but there will be some additional cost to your node runners that you have to consider.

tl;dr It doesn't get rid of the concept of Oracles but it's easier to build and cheaper to maintain on a Dappchain.

The concept of oracles remains, but you can more easily build oracles because you can changes the node software itself. For example, the Dappchain itself could be built to include an Ethereum light-client and send Ethereum data into the Dappchain itself. Oracles like this will be feeless in comparison with Oraclize but there will be some additional cost to your node runners that you have to consider.

tl;dr It doesn't get rid of the concept of Oracles but it's easier to build and cheaper to maintain on a Dappchain.

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