Concurrence is a smart contract fleet that accepts generic requests from developers, emits signaling events to a decentralized swarm of off-chain miners, collects simple responses, and delivers a currency-backed consensus on-chain.

Blockchain technologies, smart contracts in particular, are incredibly powerful and are about to disrupt many aspects of finance, business, and law. However, due to the deterministic and decentralized nature of smart contracts, they are unable to communicate directly with valuable data sources off-chain.

An oracle provides that link by making off-chain interactions and delivering results on-chain. Unfortunately, only centralized oracles exist today and contracts are forced to rely on a single point of failure which could be attacked, manipulated, or corrupted.

A decentralized, trustless network of incentivized oracles is needed to empower the next generation of smart contracts.

With the correct cryptoeconomics at play, a statistically adequate supply of miners will, in combination with the staking of a token, reach a consensus off-chain. Then, efficiently inscribe the data onto the blockchain, publicly available for developers to drive their smart contract logic.

Built With

Share this project: