Systems and methods for providing confidence in an oracle

This invention describes a way to check if information coming from an external data provider (an "oracle") for a smart contract on a blockchain is trustworthy. It does this by comparing that information against data from several other independent sources, some of which are outside the usual system and are randomly selected, then calculates how confident it is in the original data. If the data matches well, it's stored; if not, corrective action is taken.

Why it matters: The increasing value and complexity of smart contract applications since 2023 have amplified the need for highly reliable oracle data. This invention's focus on generating confidence levels from multiple, out-of-band, and randomly selected sources directly addresses the heightened demand for robust data integrity and consistency in high-stakes distributed ledger environments.

Status: Not in forceListed as no longer active. The specific reason is not in the record we hold.
How hard to build: SpecializedSoftware logic, distributed ledger integration, oracle.

3 AI reinvention directions for this patent

See all three

AI gives you a few directions you could take this. Pick one, and we check whether your version is different enough to patent, then write the filing.

Reinvent this with AI

Where this one came from

Every morning we go through millions of abandoned patents and pick out 15 worth your time. This was one of today’s.

This one

+10