Zug, Switzerland--(Newsfile Corp. - April 14, 2022) - As the complexity of current dApps (decentralized applications) on Algorand grows, so must the infrastructure, notably oracles, to enable significantly higher and better feature sets. In the Algorand ecosystem, Algoracle's opinions on off-chain computing are therefore worth discussing in key detail.
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What is it exactly?
Since smart contracts are unable to access external data on their own, all Web 3.0 technology is built on the foundation of the most crucial of blockchain middleware, oracles. The current generation of decentralized oracle networks therefore seeks to connect real-world, off-chain data to blockchains. As the complexity of contemporary dApps grows however, oracles must also mature and expand to accommodate significantly higher and deeper feature sets as aforementioned.
The next major frontier in oracle development is indeed off-chain computing, which essentially allows oracles to handle significantly more advanced programming logic as well as data aggregation requests on behalf of smart contracts in a permissionless way before publishing the data on-chain. As such, streamlining and enhancing the functionality of oracle off-chain computation not only greatly improves smart contract execution, cost efficiency, and scalability, but it additionally provides decentralized applications with an excellent quality of life features that we...
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