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What Is an ‘Oracle’ in the Context of Blockchain and Smart Contracts?

A third-party service that securely feeds real-world, off-chain data to smart contracts, enabling them to execute based on external events.
Greeks.Live04.11.25

What Is an ‘Oracle’ in the Context of Blockchain and Smart Contracts?

An oracle is a third-party service that provides smart contracts with external information from the real world. Blockchains are deterministic and cannot access off-chain data by themselves.

Oracles act as a bridge, securely feeding data like asset prices, weather conditions, or election results to the smart contract, enabling it to execute its terms based on real-world events. Oracles are critical for complex, real-world use cases in DeFi.

What Is a “Decentralized Oracle Network” and Its Advantage over a Single Oracle?
What Is the Concept of an “Oracle” in the Context of Smart Contracts?
What Are the Main Differences between Smart Contracts and Traditional Legal Contracts?
What Is the “Oracle Problem” in the Context of Smart Contracts?

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