Smart contracts only work with data that is on the blockchain. But what if they need data from the real world – for example, stock prices, the outcome of a sports match, or weather conditions? This is where oracles come to the rescue!
What are they? Oracles are services that safely and reliably deliver external data to the blockchain for use by smart contracts.
Why are they needed? They allow smart contracts to interact with the real world, expanding their functionality from simple operations to complex decentralized applications (dApps) in DeFi, insurance, gaming, and many other areas.
Oracles are a critically important component for creating truly useful and functional blockchain applications.
#Оракулы #Блокчейн #DeFi #Web3 #Chainlink