Oracles are vital in Smart Contracts and DeFi, acting as bridges between blockchain and real-world data. They fetch, verify, and relay data ensuring smart contracts execute as intended. Without reliable oracles, the integrity of DeFi systems could be compromised. Explore how decentralized oracle networks like Chainlink enhance security and efficiency in smart contracts.

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Absolutely true! Decentralized oracles like Chainlink play a crucial role in maintaining the trust and reliability of DeFi platforms by providing tamper-proof data feeds. Their decentralized nature not only enhances security but also improves the resilience of smart contracts against single points of failure.