Blockchain Oracles: Definition

A Blockchain Oracle is a mechanism that allows a blockchain to interact with data and events that occur outside of the blockchain. In other words, it acts as a bridge between the blockchain and the real world.

Blockchain Oracles: Working

Blockchain oracles are third-party services that provide external data to smart contracts on the blockchain, enabling them to interact with the outside world in a secure and decentralized manner. They retrieve and verify data from off-chain sources.

Blockchain Oracles: Importance

- Access to external data - Decentralized - Trustworthy - Helps smart contracts - Facilitates interoperability

Blockchain Oracles: Types

- Hardware and software   oracles - Inbound and outbound   oracles - Centralized and   decentralized oracles - Human oracles - Contract-specific oracles - Computation oracles

For a detailed information on Blockchain Oracles, read the WazirX blog.