Welcoming our brand new “Ledger proof”
When a smart contract is fed with data coming from a non-blockchain context (like the Web), it is important not to break the security model offered by blockchain protocols. This is why Oraclize is constantly working on improving the security of the data transport layer it provides.
With the Oraclize approach, data is sent back to smart contracts along with “authenticity proofs” — i.e. strong cryptographic guarantees proving that data was not tampered with. Our goal is to secure that channel while moving away the trust from ourselves to other parties which have much more at stake, the so-called “attestators” (typically the technology providers or device manufacturers).
The more diverse the set of these attestators, the lower the risk: while the security solutions invented keep getting better and safer on paper, in real life those technologies are often broken by security researchers in the wild.
This is why Oraclize leverages different technologies to ensure that even when one of those is compromised, the Oraclize transport layer can stay safe thanks to the security provided by the others.
Ledger is a pioneer in the blockchain space in leveraging banking-grade secure chips technology to guarantee the correct execution of some applications like cryptocurrency wallets. Their devices feature a low-footprint crypto-embedded operating system built for Secure Elements and Secure Enclaves, called BOLOS.
What we announce today is the Oraclize “Ledger proof”. By using the hardware attestation feature provided by BOLOS, it is possible to prove to a third party the correct execution of dedicated applications running on Ledger devices. Those proofs are designed to be verifiable on the EVM, enabling smart contracts to establish their validity before the data-dependent execution.
The first real-world application leveraging the Ledger proof will be a brand new dedicated datasource called “random”, where a secure architecture design to provide RNG as-a-service has been implemented. This will be released shortly!
…stay tuned
Note: The company has now rebranded into Provable.
