Oracles explained in three sentences:
Smart contracts can’t access off-chain data on their own, such as asset prices or match results, so oracles are needed to write that data to the blockchain.
If an oracle reports the wrong price, protocols that rely on it may settle incorrectly, so having diverse data sources and decentralized nodes is crucial.
When using DeFi products, pay attention to the protocol’s price feed mechanism—the more centralized the price source, the higher the risk.
$LINK 11.165（-0.89%）
#LINK
Crypto assets can rise and fall quickly. Don’t use too much leverage.
Smart contracts can’t access off-chain data on their own, such as asset prices or match results, so oracles are needed to write that data to the blockchain.
If an oracle reports the wrong price, protocols that rely on it may settle incorrectly, so having diverse data sources and decentralized nodes is crucial.
When using DeFi products, pay attention to the protocol’s price feed mechanism—the more centralized the price source, the higher the risk.
$LINK 11.165（-0.89%）
#LINK
Crypto assets can rise and fall quickly. Don’t use too much leverage.
