How Oracles Connect the Blockchain to the Real World

altcoin chronicle

24 Jan 2025 — 1 min read

Oracles act as bridges between blockchains and real-world data. They allow smart contracts to access external information such as price feeds, weather conditions, and stock market data, enabling a wide range of decentralized applications (dApps).

Projects like Chainlink and Band Protocol have established themselves as leading blockchain oracles, ensuring secure and reliable data feeds. Without oracles, smart contracts would be limited to executing pre-programmed logic without external inputs.

In the future, decentralized oracle networks will play a crucial role in DeFi, insurance, supply chain tracking, and gaming. The accuracy and security of these oracles will determine the reliability of blockchain applications in real-world use cases.

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Experts Debate Timeline for Achieving Artificial General Intelligence (AGI)

China Debates Management of Seized Cryptocurrencies

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Kraken Lays Off Hundreds Ahead of Planned IPO