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Congrats to Hart Lambur and Allison Lu for lifting the veil on portfolio company Risk Lab's first use case for real-time margining on any financial contract using blockchain technology. Similar to how HTTP allows information to move across borders, UMA will allow risk to move across the internet without a central authority or single point of failure.
Since any oracle can be bribed, we believe the only way to build a provably honest oracle is to create a system where the Cost of Corrupting (CoC) the oracle is always greater than the profit that could be earned by corrupting the system (PfC, or Profit from Corruption). If we can build an mechanism where CoC > PfC at all times, then there will never be an economic incentive to corrupt the system—and the oracle can be proven to be game theoretically secure. We’ve done some fantastic research in this space, and we’re excited to contribute our work back to the community for peer review. We’ll be open-sourcing our Github and releasing a second whitepaper detailing our oracle design and CoC > PfC framework in the near future.
https://medium.com/uma-project/uma-enabling-universal-market-access-266eb9e5fd90
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