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2022/06/24 07:35

Oracle machine: a machine for building trust

Oracle machine: a machine for building trust
Oracle is usually considered as the bridge and window of data on and off the chain. In short, the Oracle is a middleware that provides real-world data services for blockchain projects.
If we define the blockchain as a trust machine, the Oracle machine can essentially be called a machine for maintaining and building trust. In fact, the blockchain itself cannot generate trust. The input of trust comes from the oracle. If most blockchain projects do not have access to the Oracle, they will walk in the dark as if their vision is lost, and it is difficult to survive.
As we all know, blockchain is a closed black box and does not have the ability to initiate network calls. However, the smart contract requires a third party to verify the data due to the consensus mechanism. In order to facilitate understanding, we can regard the role of the Oracle as an emissary between two civilizations, just like the "intelligent child" in the three bodies. Only through the data transmission of the Oracle, can the smart contract obtain deterministic information from the Internet and the real world, including stock prices, exchange rates, the final results of the presidential election, etc.

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