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About: Blockchain oracle     Goto   Sponge   NotDistinct   Permalink

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A blockchain oracle is a third-party service that connects smart contracts with the outside world, primarily to feed information in from the world, but also the reverse. Information from the world encapsulates multiple sources, so that decentralised knowledge is obtained. Information to the world includes making payments and notifying parties. The oracle is the layer that queries, verifies, and authenticates external data sources, usually via trusted APIs, proprietary corporate data feeds and internet of things feeds and then relays that information.