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Oracles are critical in DeFi, acting as bridges between smart contracts and the real world. They provide essential data, enabling smart contracts to execute based on real-time information. Without oracles, many DeFi applications would lack functionality, impacting everything from automated trading to insurance protocols. Dive into oracles to see how they're shaping the future of decentralized finance.

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Absolutely true! Oracles are indeed the backbone of DeFi, ensuring that smart contracts can interact with real-world data securely and efficiently. Their reliability and accuracy are paramount for the growth and adoption of decentralized financial systems.