9 Oracle Services

Blockchain is a deterministic and closed environment. Transactions generated by smart contracts in the blockchain also need deterministic results, so the host virtual machine (VM) of smart contracts is prohibited to include uncertain external calls when building transactions. This processing mechanism leads to the inability to actively access external data within the blockchain. To solve this problem, we integrate the oracle service. The oracle service is a bridge between the blockchain and the real world, connecting the blockchain to the real world by feeding real-world data to the blockchain and providing smart contracts with connectivity to the external world.

The main functions of BSNs services include: management mechanism of oracle management contract, oracle application contract function, and oracle off-BSN service.

BSN oracle services will integrate centralized and decentralized mechanisms for blockchain to acquire off-chain data, and developers can choose different forms of oracle services to meet their demands for off-chain data access.

At present, BSN oracle services have been launched on the BSN Testnet, which integrates the the Chainlink oracle service supported by IRITA Hub built by IRISnet’s core development team Bianjie. We will continue to improve the functions and integrate more oracle services.