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What Is the Function of an “Oracle” in DeFi?

External Data $rightarrow$ Blockchain. Smart Contract Input. Price Feeds Essential 29.
Greeks.Live18.11.25

What Is the Function of an “Oracle” in DeFi?

An Oracle is a third-party service that securely and reliably brings external, real-world data onto a blockchain for use by smart contracts. Since blockchains are deterministic and isolated, they cannot access external data directly.

Oracles are essential for decentralized finance (DeFi) protocols that need accurate price feeds, event outcomes, or other off-chain information.

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