An external dependency denotes a reliance on an outside system, service, or component for a particular digital asset or protocol to function correctly. This could involve third-party APIs, oracle services providing real-world data, or even the stability of an underlying blockchain network. Such dependencies introduce points of potential failure external to the primary system.
Context
The interconnectedness of the digital asset ecosystem means that many protocols and applications possess significant external dependencies. News concerning disruptions to these external services, such as oracle outages or blockchain network congestion, can directly impact the functionality and perceived reliability of numerous DeFi protocols. Analyzing these dependencies is critical for assessing systemic risk.
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