External data dependency refers to a blockchain system’s reliance on information sourced from outside its native network. Oracles are common mechanisms used to bring off-chain data onto the blockchain. This dependency introduces potential points of failure if the external data source is compromised or inaccurate. Ensuring the reliability of these external inputs is crucial for the security of smart contracts.
Context
News concerning external data dependency often highlights vulnerabilities in decentralized applications that rely on oracle feeds. Discussions focus on the need for robust, decentralized oracle networks to mitigate risks. The accuracy and integrity of external data remain a critical concern for blockchain system security.
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