Oracle Lock

Chainlink is a leading blockchain oracle network. Oracle Lock serves as an external verification system that maintains oracle data integrity and accuracy.

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Oracle Lock

About!

OracleLock is a decentralized program that manages the security of oracles within the blockchain industry. An oracle serves a conduit between the blockchain and real-world sending data in and out. Oracles feed smart contracts data, answers questions about the world and controls the inputs to the smart contracts. For prediction markets in DeFi, the oracle is the main data source that inputs necessary real-time data to the oracle. Chainlink and Gnosis are the best known crypto projects with oracle capibilities. OracleLock is step for the oracle problem with 0 centralization. OracleLock ensures oracle safety and security during transcations.

Inspiration

Cloud storage platforms, from AWS to GCP to Oracle, have been leading the conversation as go-to applications for data storage. However, with the rise of blockchain technology, decentralized storage solutions create an opportunity for organizations and developers to securely safeguard their data, build better products, offer better services, and expose their projects to the Web3 ecosystem. With Oracle Lock, the goal was to create a solution that could serve as a conduit between applications and decentralized data storage while addressing the oracle problem in DeFi.

What it does

For this iteration of Oracle Lock, we used an example where have 4 functions in the smart contract that request oracle data. A unit test was conducted to verify whether the data was accurate.

How we built it

The storage portion was done using STORJ and IPFS, the leading decentralized cloud projects in the blockchain industry. For the front-end, we used Figma, Proto, and Flutter.

Challenges we ran into

Utilizing Flutter was the biggest hurdle but Youtube university was most helpful. The packages we were downloading and the CLI commands were creating issues. Instead, we used Flutter Cloud and Proto.io. Also, the compiler versions for Solidity need to be adjusted multiple times to pass compilation in the IDE.

Accomplishments that we're proud of

The biggest accomplishment was using STORJ and IPFS in tandem. A project dedicated to ensuring the accuracy of Chainlink oracles is also fulfilling to have been a part of.

What we learned

Focus on back-end then front-end. A lot more time is required for back-end development.

What's next for Oracle Lock

Improving the front-end. I'd like to make the app compatible for every oracle, not just for Chainlink.

Built With

  • chainlink
  • covalent-api
  • infura
  • ipfs
  • storj
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