[brc-20] Framework for the integration of off-chain indexers with the on-chain oracle

ALEX[1], as part of the ongoing efforts to decentralise the governance of the recently announced[2] on-chain oracle (“Bitcoin Oracle”), would like to propose the following rules on the off-chain indexer contribution to the Bitcoin Oracle.

The proposal aims to lay out some (but not all) fundamental points around

  1. the pre-requisites to encourage standardisation among different indexers,
  2. the requirements that must be met to participate in the on-chain indexing, and
  3. the process to ensure the quality of the on-chain indexing.

While it is not yet possible to conduct a formal governance vote on these matters, we would like this forum to consider the below proposal and provide constructive feedbacks.

This will allow the founding members of the on-chain indexing (i.e. Domo, ALEX, [BIS], Hiro, OKX and UniSat) to continue working on the various aspects of the on-chain indexing, while incorporating the view of the broader community and providing clarity to its direction, with its ultimate goal being a decentralised, community-led, on-chain indexing that benefits everyone in this space.

Pre-requisites

The founding members commit to making available the following as soon as practicable:

  • Standard, open sourced, indexing rules
  • Standard, open sourced, reference implementation of the rules

Requirements for a project to meet in order to join as a validator for the Bitcoin Oracle

  • Indexer implementation must be open sourced.
  • Indexer must have an operating history of at least 3 months.
  • Indexer implementation must be peer-reviewed / approved by at least two existing validators.
  • Indexer must provide the required endpoints and integrate with the on-chain indexer, following the guideline published on Bitcoin Oracle repo at Github[3].

Ongoing performance monitoring

  • Dashboard will be set up to provide a real time performance of each validator (incl. freshness, accuracy, latency, availability).
  • Those validators underperforming for a specifed period of the time will be given a grace period to address the underperformance.
  • Underperformance beyond the grace period may result in the validator being dropped.

[1] https://www.alexgo.io
[2] https://medium.com/alexgobtc/building-a-on-chain-brc20-indexer-of-indexers-aca0cea86ab2
[3] https://github.com/alexgo-io/bitcoin-oracle#validator-process

:slight_smile: Owned a business that relied on indexing , the more information indexed on Google allowed your business to show up first on Google.Indexing may sound boring but it is the most important thing for Bitcoin and it’s early adopters, like they say,“First is First” success and failure is all due to indexing!!!:slight_smile: The girls, fast cars, and big houses all are dependent on indexing. SEO is the most desired thing of Advertisers and indexing is how your token comes up first and is why you can buy that Lime Green Lambo that rich bitcoiner has down the street, that digital silly stuff, they don’t understand!!!