What is Chainlink Oracle Reputation?
Chainlink Oracle Reputation (COR) illuminates the performance of oracles on the Chainlink network. It provides oracle entities and oracle users insights into the performance, revenue, interactions and quality of oracles on the Chainlink network.
With many oracle attacks and deficiencies experienced by Defi networks in the past it is becoming increasingly apparent that oracle security is crucial. By highlighting objective oracle performance metrics, COR allows Chainlink oracle users to conduct due dilligence on the oracle service they are using before engaging in any service agreeements.
Motivating COR is a drive to lower the transaction cost when choosing to an oracle to serve a smart contract. Having information condensed into readily available and understandable data allows for oracle users to quickly judge the value offering of an oracle. Inevitably by displaying the performance of oracles there will be a natural drive of competition where oracles will strive to become the most performant in certain areas in order to be chosen for more work. Competition at an oracle level will drive for increased security of applications on Ethereum, which is not only great for app creators but app users also.
Chainlink Oracle Reputation stands for the objective display of data related oracles on the Chainlink network. COR is a platform that lets the data speak for itself. By displaying clean, condensed and engaging visualisations of data that is publicly available on the Ethereum blockchain, decisions can readily be made regarding the quality of an oracle and then the security of the application that it provides data for.