Oracles Definition | IoT ONE Digital Transformation Advisors

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	Oracles

Oracles

Formal	An oracle is a way for a blockchain or smart contract to interact with external data. With blockchains being deterministic one-way streets, an oracle is a path between off-chain and on-chain events. Read More
Practical	An Oracle is the name given to an agent that finds and verifies real-world occurrences and submits this information to a Blockchain to be used by smart contracts. This allows the smart contracts to interact with real-world data and apply functions based on that. Read More
Contents

Formal

An oracle is a way for a blockchain or smart contract to interact with external data. With blockchains being deterministic one-way streets, an oracle is a path between off-chain and on-chain events.

Practical

An Oracle is the name given to an agent that finds and verifies real-world occurrences and submits this information to a Blockchain to be used by smart contracts. This allows the smart contracts to interact with real-world data and apply functions based on that.

Overview

Oracles