NYC Ethereum #67: Securely connecting Smart Contracts to off-chain data

NYC Ethereum
NYC Ethereum
Public group
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Smart contracts are on track to be the leading form of digital agreements which form the backend of key global industries from financial derivatives to insurance to trade finance. However, in order to maintain a contract’s overall reliability, the inputs and outputs to the contract also need to be secure.

In this talk, we’ll define and examine what makes a secure oracle mechanism reliable enough to be used by smart contracts for external data delivery, access to web APIs and off-chain payments. We’ll look at how a decentralized oracle network can make oracle mechanisms more secure. Finally, we will present an in-depth approach that applies additional layers of security through the use of Trusted Execution Environments and cutting edge approaches such as TownCrier.

Note that this talk will be geared towards a more developer focused audience.

Sergey Nazarov
Sergey is the CEO of and Chainlink. He joined the cryptocurrency revolution in 2011 as a Bitcoin miner, and went on to build some of the first decentralized applications in 2013 (Cryptamail & Secure Asset Exchange). He’s currently working to solve the “oracle problem”, by providing smart contracts on leading networks with the inputs and outputs they need to effectively interface with external data sources and various other off-chain payment methods.

About Chainlink

Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. It is well known for providing highly secure and reliable oracles to both large enterprises (SWIFT) and leading smart contract development teams (OpenLaw, Zeppelin, MARKET Protocol, etc.).