Digital Assets

Oracle

Definition

What is Oracle?

A service or mechanism that supplies external data to a blockchain application.

Example in practice

A lending protocol uses an oracle for collateral prices.

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A digitally represented asset that uses cryptographic and distributed-ledger systems for issuance or transfer.

An electronically represented item of value or right that can be owned or transferred.

A distributed record of transactions grouped into linked blocks and maintained by a network.

A scarce metal commonly held for industrial use, jewellery, or investment.

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