HAPI Oracles

Traditionally, oracles are the suppliers of off-chain data and tether the on-chain “world” with external or off-chain data feed. The main objective of oracles then is to reliably, consistently, and immutably provision data to the smart contract whilst keeping the decentralized notion intact. In the contemporary blockchain medium, oracles play a crucial role in bringing transformative innovation in the industry by linking a confined blockchain infrastructure with the price, state, and/or condition of the necessary events. The most frequent use of oracles being a supply of data on price feeds.

The operation of oracles is normally hinged on the simple linkage with data providers. If a certain DApp requires some kind of data that is unavailable on-chain for their use, they normally would contact an oracle provider that has an existing oracle network in place. In the case of oracles, a network refers to the collective number of node operators that uphold the operative state of oracles i.e. individuals running an executable on a personal computer to gather data and relay it to the blockchain. Oracles have their own reputational contract that informs an issuer and penalize a particular player if the data relayed has been tampered with in any way. The symbiotic relation between numerous node operators and the absence of one centralized issuer of data encapsulates the decentralized quality of oracle services. Data validation is also present in the oracle’s structure. The validation of data normally happens on the aggregating contract whereupon the data is being assessed on the potential incongruities based on performance and behavior.

Within HAPI Protocol oracles are used to provide data from the data provider’s existing database on the wallet addresses of the potential misaligned behavioral patterns. HAPI will use its proprietary oracles that will be fully decentralized and operated by the nodal system. Each node will represent a separate computer running an oracle service and provisioning off-chain data to the HAPI SC. Oracles providers, commonly known as node operators, will also be rewarded commensurable to the work done. The payment is issued in the native digital token of the protocol for the review and audit work done on the submitted data.

HAPI oracles are cross-chain and will operate with the most widely used blockchains. The main distinguishing factor of HAPI oracles is their utility. The main notion of oracles in the protocol is the provisioning of data to the smart contracts therefore unlike the accuracy and contingency nature of price oracles, the crucial aspect and quality encapsulated in HAPI-specific oracles is the speed with which data is provisioned.

Last updated