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 by reducing single points of failure and enhancing trust in DeFi applications. Their robust network of data providers ensures accuracy and reliability, making DeFi systems more secure and efficient.