Distributed Oracle Agreement Standard (DORAs)
ARC Author: Jacopo Mileto + CODELAB
Hello everyone! I’m writing here to gather support for a new standard before going through the official ARC repo and start the proposal.
The main reference for this standard implementation is the work done by Supra Labs for the development of the paper DORA: Distributed Oracle Agreement with Simple Majority
I’d like to spearhead the effort to develop this solution for AVM.
DORA’s showcases a novel approach to oracle networks that doesn’t require Byzantine Agreement and Convex Consensus to be solved on another network but directly on the blockchain layer since itself is a SMR protocol which can solve this problems through a smart contract.
Typical Decentralized Oracles flow is: data source → oracle network agreement → post data on blockchain
DORA: data source → blockchain, smart contract performs median/weighted median calculation to find the cluster of values falling within agreement distance. Key aggregation with BLS signature can speed up the process and bring latency for data posted on the blockchain to a few ms making price oracles more reliable and cheap.
Why make an ARC? Considered the flexibility of DORA having a standard will help future development for dApps that want to leverage an oracle solution and pick the choice that fits them the best without necessarily relying on external networks, use cases: price oracles, prediction markets etc.
Quickly building their own distributed oracle system with different flavors starting from this standard.