Oracles

Oracles are services that provide blockchains with access to external data. They bridge the gap between smart contracts and real-world events by fetching and verifying off-chain information. This can include data like price feeds, weather conditions, or sports scores. By delivering accurate and timely information, oracles enable smart contracts to execute automatically based on real-world conditions. They are crucial for decentralized applications that require interaction with data outside the blockchain environment. Without oracles, smart contracts would be isolated, limiting their functionality and potential use cases.