Offchain reporting: Difference between revisions
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<h1>Price Feeds Offchain Reporting (OCR)</h1> | |||
<p><a href="https://docs.chain.link/docs/off-chain-reporting/"><strong>Official Chainlink Docs for Offchain Reporting</strong></a></p> | |||
<p><a href="https://research.chain.link/ocr.pdf"><strong>Official Chainlink Documentation for OCR Protocol</strong></a></p> | |||
<p>Migrating from FluxMonitor to Offchain Reporting was by far the most impressive upgrade, and the increase in efficiency was, and is, simply amazing.</p> | |||
<p>The migration resulted in an exponential increase in efficiency and an overall easier experience as a Chainlink Node Operator.</p> | |||
<p> </p> | |||
<h2>Migration to Offchain Reporting: ETH / USD</h2> | |||
<p>May 06, 2021: The ETH / USD AccessControlledOffchainAggregator contract was deployed at address <a href="https://etherscan.io/address/0x37bc7498f4ff12c19678ee8fe19d713b87f6a9e6"><span style="font-family:'Courier New', Courier, monospace;"><strong>0x37bC7498f4FF12C19678ee8fE19d713b87F6a9e6</strong></span></a> at transaction hash <a href="https://etherscan.io/tx/0x3442b045dde57720c72992dbc2dfd4ea0c608bdbe1d561cb584c1e2681e9edc7"><span style="font-family:'Courier New', Courier, monospace;"><strong>0x3442b045dde57720c72992dbc2dfd4ea0c608bdbe1d561cb584c1e2681e9edc7</strong></span></a>.</p> | |||
<p>May 11, 2021: The first transmissions for the ETH / USD Price Feed were broadcast on-chain.</p> | |||
<p>October ?? , 2021: The Proxy is updated to point to the OCR Contract, with the FluxMonitor contract as a failover.</p> | |||
<p> </p> | |||
<h3>Offchain Reporting Operation</h3> | |||
<p>The operation and nuances specific to OCR are quite detailed and outside the scope of this page.</p> | |||
<p>Please see the OCR Detailed Operation page for more information</p> | |||
<p>The important changes from migrating to OCR are:</p> | |||
<ul> | |||
<li>Similar to FluxMonitor, each Chainlink Node Operator is monitoring data sources at regular intervals.<ul> | |||
<li>If a single node detects deviation above an agreed upon threshold, each Chainlink node will communicate with one another off-chain and agree upon an aggregated value.,</li> | |||
<li>One Chainlink node will then be pseudo-randomly selected to broadcast the agreed upon value on-chain.</li> | |||
<li>The round is completed with a single on-chain event/transaction</li> | |||
</ul> | |||
</li> | |||
</ul> | |||
https://www.youtube.com/watch?v=hN91vq6yHRM | https://www.youtube.com/watch?v=hN91vq6yHRM | ||
Revision as of 08:13, 7 April 2022
Price Feeds Offchain Reporting (OCR)
<a href="https://docs.chain.link/docs/off-chain-reporting/">Official Chainlink Docs for Offchain Reporting</a>
<a href="https://research.chain.link/ocr.pdf">Official Chainlink Documentation for OCR Protocol</a>
Migrating from FluxMonitor to Offchain Reporting was by far the most impressive upgrade, and the increase in efficiency was, and is, simply amazing.
The migration resulted in an exponential increase in efficiency and an overall easier experience as a Chainlink Node Operator.
Migration to Offchain Reporting: ETH / USD
May 06, 2021: The ETH / USD AccessControlledOffchainAggregator contract was deployed at address <a href="https://etherscan.io/address/0x37bc7498f4ff12c19678ee8fe19d713b87f6a9e6">0x37bC7498f4FF12C19678ee8fE19d713b87F6a9e6</a> at transaction hash <a href="https://etherscan.io/tx/0x3442b045dde57720c72992dbc2dfd4ea0c608bdbe1d561cb584c1e2681e9edc7">0x3442b045dde57720c72992dbc2dfd4ea0c608bdbe1d561cb584c1e2681e9edc7</a>.
May 11, 2021: The first transmissions for the ETH / USD Price Feed were broadcast on-chain.
October ?? , 2021: The Proxy is updated to point to the OCR Contract, with the FluxMonitor contract as a failover.
Offchain Reporting Operation
The operation and nuances specific to OCR are quite detailed and outside the scope of this page.
Please see the OCR Detailed Operation page for more information
The important changes from migrating to OCR are:
- Similar to FluxMonitor, each Chainlink Node Operator is monitoring data sources at regular intervals.
- If a single node detects deviation above an agreed upon threshold, each Chainlink node will communicate with one another off-chain and agree upon an aggregated value.,
- One Chainlink node will then be pseudo-randomly selected to broadcast the agreed upon value on-chain.
- The round is completed with a single on-chain event/transaction