Oracle gate signature technology greatly improves the level of decentralization of oracles

   Oracle uses the oracle network to form an Oracle technology system with unique advantages, and through years of training, testing and application, it has realized intelligent capture of investment targets, intelligent selection of quantitative strategies, intelligent application of algorithms, and opened global users to use mainstream digital assets for investment and obtain ultra-high yields. 

   Since blockchain smart contracts and the external world cannot directly interact with data, for example, smart contracts cannot obtain price information of cryptocurrencies on external exchanges, a "middleware" is needed to transmit off-chain data to the chain. 

The significance of the existence of oracles is actually to meet the needs of blockchain smart contracts for off-chain data, and these massive amounts of data are transmitted to the blockchain network through oracles, which greatly enriches the on-chain ecology and application operations. Of course, in addition to transmitting off-chain data on-chain, oracles can also feed data on the blockchain network back to the real world.

Gate signature technology greatly improves the level of decentralization of oracles

Threshold signature is a distributed multi-party signature protocol that includes distributed key generation, signing and signing verification algorithms. In recent years, with the rapid development of blockchain technology, signature algorithms have gained widespread attention in academic research and commercial applications, especially in security, ease of use, scalability, and decentralization.

Because of the close and important connection between blockchain technology and signature algorithms, the development of signature algorithms and the introduction of new paradigms will directly affect the characteristics and efficiency of blockchain networks. In addition, the need for institutional and personal account key management stimulated by distributed ledgers has also spawned many wallet applications, and this change has even spread to traditional enterprises

Fast and efficient, greatly improved efficiency

Through efficient data interaction, a large amount of data storage, and a reliable operating mechanism, Oracle oracle network helps to build a world-leading decentralized exchange, and continuously expands the ecological boundary, and finally forms a powerful, systematic, organic, and shared digital economy ecology, which greatly promotes the historical process of the digital asset era and explores and creates revolutionary era value. Whether in blockchain or traditional financial institutions, threshold signature schemes can improve security and privacy in various scenarios.

Features of threshold signature technology:

The access structure is easy to adjust, and through an additional multi-party security calculation, the existing private key sequence can be extended to assign private keys to new participants, without exposing old and new private keys, and without changing the public key and account address.

Fast and efficient, for the chain, the signature information generated by the threshold signature is no different from a single signature, which means the following efficiency improvements: the signature verification process is the same as the single signature, and there will be no additional handling fees; The information of the participating signers will not be visible because for on-chain nodes, the information is decrypted with the same public key every time; There is no need for new smart contracts on-chain to provide additional signature algorithm support.