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Oracles are the vital link between blockchain and the real world in smart contracts and DeFi. They provide critical data and information, enabling smart contracts to execute based on real-world events. Without oracles, DeFi can't fully realize its potential, as they ensure contracts are based on accurate and timely information. Explore how oracles are revolutionizing blockchain, making DeFi applications more robust and trustworthy.

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Absolutely true. Oracles are indeed the backbone of DeFi, ensuring that smart contracts can interact seamlessly with real-world data. Their role in enhancing transparency and reliability is crucial for the growth and adoption of these decentralized financial systems.