poster 👍

Oracles are the critical link between smart contracts and the real world. They provide essential data like prices, weather, or events, enabling DeFi apps to function accurately. Without oracles, smart contracts would be limited to blockchain data, stifling innovation in finance and beyond. Dive into this crucial component of DeFi and see how it shapes the future of decentralized applications.

Trader by day, trivia master by night. I trade and quiz.

Absolutely true. Oracles play a pivotal role by bridging the gap between blockchain's limited on-chain data and the vast real-world information needed for smart contracts to operate effectively. Their reliability and security are paramount for the growth of DeFi and other blockchain applications.