31st May 2022
Blockchain oracles, also called blockchain middleware, are services that connect blockchains to external (off-chain) third-party clients and services. Oracles act as intermediaries between blockchains and external data sources by providing avenues for exchange between blockchains and third-party services and vice-versa. On smart contract blockchains, hybrid smart contracts (smart contracts that use oracles) use decentralized oracle networks (DONs) which examine, verify, and validate resources from external services for use on blockchains. Blockchains, by design, do not have data, as they are mere data structures and often need data from external sources to function — the data from the external source must […]
