An External Data Feed is a mechanism that delivers information from sources outside a blockchain network to smart contracts operating within it. These feeds are essential for decentralized applications that require real-world data, such as asset prices, sports results, or weather conditions, to execute their logic correctly. They serve as a bridge between off-chain data and on-chain processes.
Context
The reliability and security of external data feeds, often implemented via oracle networks, are paramount for the integrity and functionality of decentralized finance protocols. Any compromise or inaccuracy in these feeds can lead to severe financial consequences for users. Therefore, their design and security remain a critical area of focus.
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