Blockchain Oracle: Types, Uses, And How It Works

submitted 2 weeks ago by ideausher1 to apk

Imagine a bridge between the closed world of blockchains and the messy world of real-time data. That's a blockchain oracle. It fetches information, like weather or stock prices, from outside the blockchain and delivers it to smart contracts. These contracts can then use that data to trigger automatic actions, like payouts or insurance claims. There are different oracle types, some coded to grab data from specific sources, others relying on human input. This bridge allows blockchains to interact with the real world, making them way more powerful.