❓ What are Blockchain Oracles?

#Oracles are a way for blockchains to talk to the outside world.

An oracle records real-world data, e.g. the amount of rain in an area, and puts it on the blockchain.

Once this data is on the blockchain, smart contracts can make intelligent decisions about real-world scenarios.

For example, whether farmers should get insurance money for their crops.

Without oracles, we would have no way of interacting with the real world.

And #Web3 would be limited to a silo!

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