Let’s talk about oracles.
Smart contracts can’t directly access off-chain data, such as asset prices or weather information. Oracles are needed to write this data onto the blockchain.
To be honest, I only learned this later: when choosing a DeFi product, pay attention to the protocol’s price feed design. The more concentrated the price data sources are, the greater the risk.
$LINK is the token of the decentralized oracle Chainlink. It’s currently at 11.407.
Understanding how it works helps you make informed decisions; it’s not for predicting market movements.
Smart contracts can’t directly access off-chain data, such as asset prices or weather information. Oracles are needed to write this data onto the blockchain.
To be honest, I only learned this later: when choosing a DeFi product, pay attention to the protocol’s price feed design. The more concentrated the price data sources are, the greater the risk.
$LINK is the token of the decentralized oracle Chainlink. It’s currently at 11.407.
Understanding how it works helps you make informed decisions; it’s not for predicting market movements.