A Brief Introduction to Oracles: The Cornerstone of Trust in the Blockchain World
In fact, the main source of trust in the blockchain is oracles. Like any computer system, the blockchain processes data, but there are two sources of data in the blockchain world: data that is already on the blockchain, and data that is not. So how does the blockchain obtain data from outside? The answer lies in oracles, which are intermediaries that transfer data from the real world to the blockchain. Oracles play a critical role in ensuring the security and reliability of the entire blockchain system by collecting and verifying data from multiple sources. Without oracles, the blockchain would be limited in its real-world applications. Clearly, oracles are necessary when a smart contract requires data from outside the blockchain. The smart contract requests the data from the oracle, which then retrieves the data from off-chain sources and relays it back to the smart contract. 1. Oracles: The Foundation of Trust In the world of blockchain, oracles are extremely important. Without oracl