How Does the Decentralization of Oracle Networks Attempt to Solve the Single Point of Failure Issue?

Decentralization solves the single point of failure by distributing the data provision and verification process across numerous independent, globally distributed nodes and multiple data sources. No single entity controls the price feed.

If one node or source fails or is compromised, the network's consensus mechanism (e.g. medianizing the data) ensures the smart contract still receives an accurate and reliable price.