DeFi Oracles, What Are They and How Do They Work?

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Avatar for The.Part.Time.Economist
1 year ago

Cryptocurrency smart contracts and DeFi protocols have taken finance to the next level by empowering people across the globe to buy, sell, lend, borrow, and trade assets without the need for a trusted middle man. Despite the power of smart contracts and DeFi, there is still room for improvement. Namely, smart contracts have no way of seeing real world data or being triggered by actual events. In order to assure a decentralized, robust data feed, many smart contracts rely on entities known as oracles. If you're unfamiliar with oracles or how they work, then this is the post for you! #crypto #link #chainlink


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