CHIP3 Zero-Coding Oracle Service

Overview

CHIP3 Oracle Service is a customizable decentralized Oracle protocol that provides an ability to receive external world data in Venom blockchain contracts. This BUIDL describes both architecture and implementation of such Oracle and additional services - Feed Explorer, Task Constructor Studio, Oracle Validator Node.

The main problem in Oracle services adoption is a complex/centralized process of creating new custom data feeds. Most Oracles support only standartized data feeds and even more flexible ones rely on a process of centralized approve. Also, it's crucial for a new data feed creator to be a good programmer, as custom tasks should be written manually.

Thus, we decided to make an Oracle that provides a user-friendly UX, easy constuctor for Feeds/Tasks and doesn't require offchain entity to approve new Validators, Consumers (see more on (our Docs) page.

Key Points

• Create your own Oracle tasks from premade blocks. Go to our Demo app and construct your own Tasks.
• Automate executions of your smart contracts. With 3 types of Tasks (Immediate, Scheduled & Data Feeds) you can automate almost any tasks and data queries.
• Receive secure price data from constantly updated feeds. Tasks support medianized consensus that provides an ability to find the most correct, Schelling point answer.
• Take part in free market tokenomics. All participants of CHIP3 protocol can register, use and earn income without any centralized entity.

Quick Resources

• Web3 Demo
• Demo Video
• Documentation
• Github
• T-Sol Contracts
• Support

Tech Resources

• Contract Architecture
• Stack Architecture
• Contract Deployment Artifacts
• JDK Framework Github

Architecture

Oracle protocol constists of following entities:

• Consumer - smart-contract that makes requests or awaits responses from Oracle
• Payer - Owner of Bank deposit, that allowed spending to Consumer contract
• Bank - Collection of Payer deposits, Task deposits and Validator deposits, managed in a distributed way
• Task - Sequence of actions that Validator Node should execute and provide answer, wrapped in a smart-contract. Also, every Task is an Elector that processes Validators consensus.
• Validator - smart-contract that is used by Node to send answers to Tasks and stakes to Bank

The overall architecture is:

Type of Task: Immediate

Consumer sends its request to Task, specifying his Payer in the request. Task checks Payer for allowance for Consumer. If allowance is ok, Task transfers tokens from Payer's deposit. Task emits request Event. If Validator is subscribed to this Task, it'll catch the event and start executing Task's actions. After actions are completed, Validator sends answer to Task's Election thorugh commit/reveal secure scheme. If consensus is reached, answer will be provided to Consumer. Validators are rewarded then.

Type of Task: Value Feed

Consumer sends its request to Task, specifying his Payer in the request. Task checks Payer for allowance for Consumer. If allowance is ok, Task transfers tokens from Payer's deposit. Task immediately response with last successful answer. Task has deviation limits for time/value. If Validator is subscribed to this Task, it'll catch the deviations and start executing Task's actions. After actions are completed, Validator sends answer to Task's Election thorugh commit/reveal secure scheme. If consensus is reached, last successful answer will be updated. Validators are rewarded then.

Implementation

Zero-Coding Task Studio

One of our main features is a Task Studio, where you can create sequence of different Actions ( in fact, it's Directed Acyclic Graph ) and wrap them into Task. It's an easy constructor, but if you stuck, check our Docs for more info.

T-Sol Contracts on Venom DevNet

All T-Sol Contracts are deployed to VenomDevNet. Check README for some addresses.

Validator Node

Validator Node is implemented in Java language, using newest tech of latest JDK 19 - Virtual Threads. Fast, scalable and more flexible than Go ones, they probide a way to reach better future scalability, while preserving Java stability. Node also uses our own Java4Ever framework, our own Java<>EVER-SDK binding and also libs of Helidon microservice framework.