Cryptocurrency Q&A
What does Oracle do in crypto?
What does Oracle do in crypto?
Michele
Mon Sep 23 2024
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7 answers
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Can you please elaborate on the role of Oracle in the world of cryptocurrency? I'm curious to understand how they fit into this digital landscape and what specific functions or services they provide to support the ecosystem. Is there a specific use case or industry that Oracle is particularly well-suited for within the crypto realm?
7 answers
Valentino
Wed Sep 25 2024
A blockchain oracle serves as a crucial intermediary for smart contracts, bridging the gap between the digital realm and the physical world.
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EmmaWatson
Wed Sep 25 2024
By accessing and verifying data from external, real-world sources, oracles ensure that smart contracts receive trustworthy information.
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CryptoMystic
Wed Sep 25 2024
This process enables smart contracts to incorporate real-world events and conditions into their decision-making logic.
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BonsaiStrength
Wed Sep 25 2024
The role of an oracle is essential in maintaining the integrity and functionality of smart contracts, as they operate solely within the confines of the blockchain.
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Andrea
Tue Sep 24 2024
Without oracles, smart contracts would be limited to relying solely on information that is inherently available within the blockchain, severely limiting their usefulness and applicability.
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