Blockchain Oracles

Total 5 posts

The term Oracle comes from cryptography, it is used to describe a black box type of machine: something that performs its job and you do not really question how it works. In cryptocurrency and blockchain, oracles are used to describe the process of how to obtain external real world data to be used in a smart contract. Oracles are services that provide real world data onto the blockchain that they can be queried by smart contracts, such as: Chainlink, MakerDAO, Augur.