Web Data Access in Intelligent Contracts

Overview

GenLayer enables Intelligent Contracts to directly access and interact with web data, removing the need for oracles and allowing for real-time data integration into blockchain applications.

Key Features

• Direct Web Access: Contracts can retrieve data from web sources.
• Dynamic Applications: Access to web data allows for applications that respond to external events and real-world data.
• Equivalence Validation: Retrieved data is validated across validators to ensure consistency.

Implementation

1. Data Retrieval Functions: GenLayer provides mechanisms for fetching web data within contracts.
2. Data Parsing and Validation: Contracts must parse web data and validate it according to defined equivalence criteria.
3. Security Measures: Contracts should handle potential security risks such as untrusted data sources and ensure data integrity.

Considerations

• Network Dependencies: Reliance on external web sources introduces dependencies that may affect contract execution.
• Performance Impact: Web data retrieval may introduce latency and affect transaction processing times.