What Is a “Hybrid Smart Contract” and How Does It Use Both Push and Pull Oracles?
A hybrid smart contract is one that combines on-chain logic (the smart contract itself) with off-chain data and computation (provided by an Oracle). It uses both push and pull systems: a push Oracle might be used for critical, high-frequency data like liquidation prices, while a pull Oracle might be used for less time-sensitive data, such as contract initialization parameters or historical price verification, optimizing for both security and gas efficiency.
Glossar
Smart Contract
Code ⎊ The contract is fundamentally self-executing code deployed on a distributed ledger, embodying the terms of the agreement in an immutable format.
Push Oracle
Oracle ⎊ A Push Oracle is a data delivery architecture where the oracle network nodes are responsible for actively submitting and updating the latest off-chain data, such as market prices, onto the blockchain at predefined intervals or when a significant price deviation occurs.
Hybrid Smart Contract
Oracle ⎊ A hybrid smart contract integrates deterministic on-chain code execution with external, off-chain data feeds, often supplied via decentralized oracle networks.
Contract Initialization Parameters
Parameter ⎊ These essential parameters define the fundamental characteristics of a derivative or lending contract at the moment of its deployment on a blockchain ledger.