A note from Daniel

Crypto Oracles Many of today's contracts or transactions are bets on things like, "Will this price go up or down?" or "Will the temperature go up?" A more complicated one: "Do I need to pay out this farmland insurance because there is a drought?" That's an example of a contract that combines a financial function and a fact about the world. To execute automatically through a smart contract on the blockchain, the contract needs access to data about the outside world, which is not purely financial. That's what crypto oracles do.

Daniel The Anthology Of Balaji, page 110 · February 14, 2024 Save to shelf
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