An oracle is a pivotal bridge that connects the blockchain with the real world. Acting as on-chain Application Programming Interfaces (APIs), they can be queried for information and used in smart contracts. While Ethereum was build to be a Turing complete systems, the system cannot directly fetch external or personal data, making secure oracles a necessity to the mass adoption of Decentralized Finance.
Over the past two years, we have seen the emergence of numerous oracle solutions designed to supply real-world data, such as weather forecasts, asset prices, and more. Some notable solutions include Chainlink, Band Protocol, and API3. These solutions have undeniably spurred web3 adoption, yet there still exists a gap in integrating private web2 legacy data into the web3 ecosystem and cross-chain web3 efficient messaging systems.
In this article, we propose a trustless decentralized connection network by combining the power of Multiparty Computation (MPC) and Collaborative Zero-Knowledge Proofs (Collaborative ZK). Without the need for a reliable intermediary. Our approach suggests that multiple parties can work together to perform computations by utilizing MPC. This decentralized approach propagates trust across the involved parties and minimizes reliance on a single body. Each participant can contribute its computing resources and inputs, guaranteeing that no one centralized organization controls the data retrieval process.
By using Collaborative ZK, the gathered data may be compared and evaluated among the participants within Smart Contracts. The Smart Contract can detect and eliminate any incorrect or faulty data by collectively checking the inputs from various data sources. Each Oracle can generate proof that attests to the correctness and integrity of the data without disclosing the underlying values. This ensures that the fetched data has not been tampered with or manipulated during the retrieval process and generating a consensus based methodology.
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