Skip to main content

Oracle Networks

Definition

Oracle networks are decentralized services that provide external, real-world data to smart contracts on a blockchain. They act as bridges, securely feeding information such as price feeds, weather data, or event outcomes into the deterministic environment of a blockchain. Without reliable oracle networks, the functionality of many decentralized applications, particularly those reliant on off-chain information, would be severely limited. Ensuring the accuracy and tamper-resistance of these data feeds is critical for the integrity of the smart contracts they serve.