Off-chain Oracles

The main purpose of Bond's Off-chain oracle is to solve the problem of high on-chain computational complexity and cost. By moving computations from the blockchain to the off-chain, Bond can greatly reduce the computational cost and be more flexible in data processing and calculation. Additionally, Off-chain oracle can provide better privacy protection and data security because the computation process does not directly expose on the public blockchain but instead takes place in a private network. Finally, through Off-chain oracle, Bond can achieve more complex and efficient reward calculations, thereby incentivising users to participate more actively in social activities.

Bond Oracle Flow

The Bond Oracle provides an array of functionalities that facilitate the computation and distribution of rewards in a decentralised, transparent, and automated way:

• Reward Contracts

Reward contracts are responsible for creating and managing reward calculation projects, specifying the project's reward model, total rewards, and custom parameters. They also create a Merkle Distributor contract for each project to distribute the calculated rewards.

• Merkle Distributor Contracts

These contracts work in conjunction with Reward Contracts, distributing rewards based on calculated results. They distribute rewards using a Merkle tree structure, ensuring the security, transparency, and efficiency of rewards.

• Reward Computation Models

Bond's Reward Computation models provide a customised, efficient, fair, and transparent reward scheme that can attract and retain more users. By using centrality algorithms to measure users' importance in the relationship network and providing corresponding rewards, Bond Network can better meet users' needs and increase their participation and activity.

• Off-chain Reporting

Off-Chain Reporting (OCR) is a data verification method that relies on off-chain computers, also known as Oracles, to validate the results of off-chain computations used in on-chain smart contracts. The fundamental principle of OCR is the collective validation of specific data by multiple off-chain computers, which then submit the validation results to the blockchain to ensure accuracy and impartiality. As a scalable, trustworthy, and decentralised method of data verification, Bond's OCR can be broadly applied across industries such as finance, logistics, and energy to enhance data accuracy and reliability.

You can find out how to setup a bond oracle node here.