Oracles are third-party services that provide blockchain platforms with information about external real-world events as well as external digital events. - by ShaanRay oracle blockchainoracles
Blockchain platforms' decentralized and distributed nature makes them secure and trustworthy.
For example; if two users place a bet in the form of a smart contract and the triggering event is the outcome of a basketball game, then we could write a smart contract that requires five oracles to participate, let’s say ESPN, NBC Sports, CNN Sports, BBC Sports, and Yahoo Sports.
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