What Is the Role of “Oracle” Services in Determining Optimal Gas Prices?

Oracle services are external data feeds that provide real-time information about the current state of the network, including the recommended gas price to achieve confirmation within a certain timeframe. These services monitor mempool size and recent block inclusion rates to offer dynamic fee estimates.

While not mandatory, they help users and wallets set competitive gas prices, especially in volatile or congested market conditions, optimizing for cost and speed.