Scheduled Transactions

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Privileged inclusion

Scheduled transactions have privileged inclusion at the top-of-block.

This enables priority execution for critical, automated operations like oracle updates that must execute before other state accessing transactions (think, a price update from an oracle that must be triggered before users deposit or withdraw from a lending protocol).

Uniquely, this enables:

1. Priority execution for critical, automated operations like oracle updates
2. Predictable update intervals for automated, recurring operations like price updates
3. Guaranteed execution for critical operations with separately priced inclusion fee markets

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Verifiable oracles

Via modular computational integrity primitives, scheduled transactions can enshrine on-chain model outputs and off-chain data sources with verifiable provenance and authenticity.

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Model execution oracles

Commonly, on-chain protocols (especially DeFi protocols) rely on oracles to fetch real-time data from external sources. This data is then used to update protocol parameters, such as interest rates or exchange rates.

With Ritual’s scheduled transactions, we can create a new class of oracles that execute classical ML inference operations at fixed frequencies, consuming on-chain and off-chain data to periodically update protocol parameters.

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TEE-based data oracles

Another example of verifiable oracles are TEE-based data oracles, which collect off-chain data at fixed intervals via scheduled transactions, enshrining requested data validated by TEE attestations. The flow looks something like:

1. A scheduled transaction requests data from a TEE image at a fixed interval
2. Via Resonance and Symphony, a TEE node is selected for execution
3. The TEE node executes the TEE image, collecting data from an off-chain source
4. The TEE node generates a cryptographic attestation of the data collection
5. The network validates the TEE node’s attestation
6. The off-chain data is enshrined on-chain, at top-of-block, accessible to any smart contract

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Comparison to traditional oracles