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What Is an Oracle and Why Is It Necessary for Many Smart Contracts?

Third-party service for off-chain data; Bridges real-world data to the blockchain; Ensures accurate execution.
Greeks.Live08.11.25

What Is an Oracle and Why Is It Necessary for Many Smart Contracts?

An Oracle is a third-party service that provides smart contracts with external information, such as real-world prices, weather data, or event results. Smart contracts on a blockchain cannot access off-chain data natively.

Oracles bridge this gap, ensuring that the contract's execution is based on accurate, verified external inputs.

How Does an ‘Oracle’ Feed Data to a Smart Contract?
Can a Third Party View a Monero Transaction If They Have the Private View Key?
What Are the Differences between On-Chain and Off-Chain Transactions in Terms of Security and Reliance on SHA-256?
How Do Oracles Enable Smart Contracts to Interact with Real-World Data?

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