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Oracles are the bridge between the blockchain and the real world in DeFi and smart contracts. They provide critical data, ensuring contracts execute as programmed. Without reliable oracles, these systems would struggle with on-chain decision-making based on off-chain data. Dive into the importance of decentralized oracle networks for a robust DeFi ecosystem.

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Absolutely true! Decentralized oracles are game-changers for DeFi, offering both security and reliability. They ensure smart contracts can react to real-world events accurately, which is crucial for the growth and trust in decentralized finance. 