Inspiration
The ethos of decentralization encourages a fault tolerant exchange of data and information among a distributed network. However, in the opening salvos of wider decentralized application adoption, companies are faced with the critical problem of relying on a central oracle service to interface between blockchains and real world data. This introduce a host of problems, with a central point of failure being the most significant. This problem will be accentuated as blockchains are implemented in industries handling sensitive data such as healthcare and finance. We wanted to build a project that acknowledged the significance of this problem while also leveraging the new decentralized paradigm.
What it does
The Delphi platform is a decentralized bridge for dApps to interface between private and public blockchains while ensuring data accuracy. The V0.1 implementation of the Delphi platform is a Solidity based smart contract that interfaces between Hyperledger Fabric and Ethereum. The platform accomplishes this by allowing dApp developers to post bounties to a network of bridges. The developer will be able to define specific parameters for the bounty contract, in which the network of bounty hunters will attempt to fulfill the data transaction.
How we built it
We built the Delphi platform using Solidity and Python.
Challenges we ran into
To provide a robust, truthful ecosystem, we needed to redesign the economic incentive structures to create a sustainable bounty mechanism for validating information streams
Accomplishments that we're proud of
We developed a sophisticated and decentralized oracle model that provides unique value to enterprise clients
What we learned
We learned that teamwork is magic.
What's next for Delphi
The ecosystem for providing open-source oracles at the moment is incredibly sparse. In the near future, we hope to provide a working implementation for a fully featured enterprise solution as well as a working bounty system.
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