Oracles

In blockchain and smart contracts, oracles act as bridges that securely provide external information—such as weather data, stock prices, or sports results—to the blockchain. Since smart contracts inherently cannot access data outside their network, oracles supply verified real-world data, enabling contracts to execute based on external events. They ensure that the information used is trustworthy and accurate, which is essential for automating complex agreements or financial transactions that depend on real-world conditions. Essentially, oracles are trusted data relays that connect blockchain systems to the outside world.