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What is Blockchain Oracle?
An oracle feeds real-world data (prices, weather, sports scores) to smart contracts on the blockchain. Chainlink is the largest oracle network.
Full Explanation
Blockchains can't access external data by themselves — they only know what's on-chain. Oracles solve this by feeding off-chain data (crypto prices, interest rates, event outcomes) to smart contracts. Price oracles are critical for DeFi: lending protocols need accurate prices to determine collateral ratios, and DEXs need them for pricing. Chainlink (LINK) is the dominant oracle provider. If an oracle feeds wrong data, it can trigger mass liquidations — this is called an oracle attack.
Related Terms
Last updated: 2026-03-21
