The first part of the thesis describes the Ethereum platform. Ethereum is a decentralized computer infrastructure for executing programs called smart contracts. The main components of the blockchain are outlined and characterized. There is also cryptographic background of the network explained. The programming language for smart contracts, Solidity, is explained in a bit more detailed manner. Decentralized applications (applications that use smart contracts technology) are described. Systems that provide the blockchain with data from the outside of the chain, oracles, are presented and the decentralized oracle problem is defined. Flare network's FTSO oracle is presented together with relevant mathematical formulations.
The second part of the thesis details the implementation of smart contract SimpleOracle and outlines the main parts of the contract. Instructions for setting up the work environment are provided, and the use of some tools is demonstrated.
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