What does “oracle” refer to in blockchain?
First, the definition: Sergey Nazarov is a co-founder of Chainlink, and he co-founded the project together with Steve Ellis.
The logic behind it: DeFi protocols such as lending and derivatives rely on reliable price data to calculate collateral ratios and liquidations; if the price feed goes wrong, it can trigger liquidations that should not happen.
$LINK is the token of the Chainlink network, used to pay for node service fees.
Knowledge can help you avoid pitfalls, but it cannot replace risk control.
First, the definition: Sergey Nazarov is a co-founder of Chainlink, and he co-founded the project together with Steve Ellis.
The logic behind it: DeFi protocols such as lending and derivatives rely on reliable price data to calculate collateral ratios and liquidations; if the price feed goes wrong, it can trigger liquidations that should not happen.
$LINK is the token of the Chainlink network, used to pay for node service fees.
Knowledge can help you avoid pitfalls, but it cannot replace risk control.
