Crypto trivia 📚 Oracles
Lending and derivatives protocols use prices provided by oracles to calculate collateral values and execute liquidations.
Smart contracts can’t fetch off-chain data on their own, such as token prices or match results. Oracles have to send that data on-chain.
I didn’t understand this before, and the tuition I paid could’ve bought me bubble tea for months.
$LINK is the token of the decentralized oracle Chainlink. Currently at 12.981.
#LINK
The above is compiled from publicly available information. Refer to the original text.
Lending and derivatives protocols use prices provided by oracles to calculate collateral values and execute liquidations.
Smart contracts can’t fetch off-chain data on their own, such as token prices or match results. Oracles have to send that data on-chain.
I didn’t understand this before, and the tuition I paid could’ve bought me bubble tea for months.
$LINK is the token of the decentralized oracle Chainlink. Currently at 12.981.
#LINK
The above is compiled from publicly available information. Refer to the original text.