Trusted Blockchain Oracle Scheme Based on Aggregate Signature

Abstract

With the development of blockchain technology, more and more applications need out-of-chain data. Thus, blockchain oracles have become an important bridge for transferring data on and off the chain. This paper studies the mainstream blockchain oracles scheme, summarizes the shortcomings of the existing schemes and proposes a new blockchain oracle scheme based on BLS (Bohen-Lynn-Shacham) aggregation signature to ensure that off-chain data can be transferred into the blockchain in a trusted and reliable way. Specifically, the scheme uses multiple blockchain oracles to avoid the single point of failure or even a small number of malicious oracles, and improve the credibility of data. At the same time, it not only uses BLS aggregate signature to reduce the storage cost and communication overhead, but also uses commitment mechanisms to ensure the reliability and authenticity of the data. Besides, the simulation results show that the scheme can meet the practical application requirements.