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Oracles may be the most overlooked challenge in crypto.
Whenever a smart contract needs real world data, be it a price feed, a sports result, or a weather report, it has to rely on an external source to bring that data onto the blockchain.
Such external sources are oracles, and oracles are a vulnerability.
- They can be compromised.
- They can become inoperable.
They create a center of control to what is intended to be an autonomous system.
The oracle problem has existed since the launch of Ethereum and it remains unsolved.
@GenLayer's approach is innovative.
Intelligent Contracts do not retrieve data through an oracle.
Instead, they source the data on their own.
The contract will, in fact, fetch real-time data on the web while it is being implemented.
The validators fetch the data independently and come to a consensus based on their findings.
This means there is no middleman.
There is not a single source of truth that you need to have faith on.
There are AI validators that read the exact same data and are not in consensus.
GenLayer has not only increased the efficiency of oracles, they have inspired a new paradigm in logic.
This is possibly one of the most important things GenLayer has been working on.
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