The Chainlink network provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain.

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Decentralized Oracle Networks

Seven Key Design Goals

Organization of this Paper

Introduction

Current Architectural Model

Consensus Assumptions

Notation

Note on Trust Models

Security Model and Goals

Networking

Computation

Storage

Transaction-Execution Framework (TEF)

Mempool Services

Off-Chain Reporting (OCR)

DECO and Town Crier

Existing On-Chain Chainlink Services

Node Reputation / Performance History

Stepping Stones: Existing Chainlink Capabilities

Decentralized Oracle Network Interface and Capabilities

Proof of Reserves

Interfacing with Enterprise / Legacy Systems

Decentralized Identity

Priority Channels

Confidentiality-Preserving DeFi / Mixicles

Decentralized Services Enabled by Decentralized Oracle Networks

Oracle Front-Running

Front-Running User Transactions

The Front-Running Problem

Transaction Processing

Transaction Atomicity

FSS Details

Fair Transaction Sequencing

Network-Layer Considerations

Entity-Level Fairness Policies

Fair Sequencing Services

TEF Overview

Transaction Routing

Syncing

Reorgs

The DON Transaction-Execution Framework (DON-TEF)

The Limitations of Authenticated Data Origination

Confidentiality

Combining Source Data

Processing Source Data

Data-Source Authentication

Failover Clients

Minority Reports

DON Trust Minimization

Guard Rails

Trust-Minimized Governance

Public-Key Infrastructure

Trust Minimization

Rollout Approach

Dynamic DON Membership

DON Accountability

DON Deployment Considerations

Staking Overview

Background

First-Tier Incentive Model: Rational Actors

Second-Tier Adjudication Model: Correctness by Assumption

Adversarial Model

How Much Cryptoeconomic Security Is Enough?

Modeling Assumptions

Further Mechanism Details

Quadratic Staking Impact

Realization of Second Tier

Misreporting Insurance

Staking Mechanism: Sketch

Single-Round Variant

Future Fee Opportunity

Speculative FFO

External Reputation

Open IIF Analytics

Implicit-Incentive Framework (IIF)

Putting It All Together: Node Operator Incentives

The Virtuous Cycle of Economic Security

Additional Factors Driving Network Growth

Economics and Cryptoeconomics

Conclusion

Glossary

Integrity

Availability

Trusted Execution Environments (TEEs)

TEE Security

Secure Multi-Party Computation (MPC)

Resource Pricing

DON Interface: Further Details

Oracle-Mediated Data-Source Access (MediatedReport)

Cross-Ledger Reports (XL-Report-Read)

Confidential Switch (ConfSwitch)

Adapter Examples

Functional Signatures for Combining Data

Discretized Functional Signatures

Functional Signatures

Prospective Bribery

Random vs. Committee-Based Oracle Selection

Chainlink 2.0: Next Steps in the Evolution of Decentralized Oracle Networks

Chainlink LINK

Community

Community