An oracle is a program that provides external data to a blockchain networkA blockchain network is a decentralized system that allows for peer-to-peer transactions. The main components of a blockchain network are... Read More in order to trigger smart contracts and update the ledger. The oracle acts as an intermediary between smart contracts and external sources, verifying and authenticating provided data before the data passes to the smart contractSmart contracts are computer programs that facilitate self-execution and self-enforcement of digital contracts and agreements without third-party intermediaries (such as... Read More. Smart contracts rely on the accuracy of this information in order to function correctly.
