You may have heard of the "Oracles of $LINK , $RED ,$API3 ..." but... what are they really?

To understand this, you first need to know that blockchains cannot access information from the real world on their own. This is where oracles come in, acting as bridges between the blockchain and the outside world.

What are oracles used for and what is their importance?

As I mentioned earlier, oracles transmit real-world information to the blockchain, allowing smart contracts to make decisions based on external data, such as: cryptocurrency prices, weather conditions, results...

Oracles are a fundamental part of the blockchain, as without them, smart contracts would be isolated and the crypto ecosystem could not evolve.

Did you imagine that oracles were so important? I encourage you to comment ;)

#blockchain #oraculos #redstonetoken #Chainlink #defi