What if our dapp relies on some set of data that exists in the real world? How can we access data and ensure it is real and accurate? This is where oracles come in. Oracles are entities that provide external data that we can use in our smart contracts.
For example, let’s say we’re building a decentralized betting dapp, and we need to write a smart contract that handles the bets. We might need to access external data that provides information on certain events to determine the outcome of the bet. An oracle allows us to access that data in our smart contract so that we can trustlessly use external data within our on-chain smart contracts.
Two examples of popular oracle services you can use are:
Think about this question: What sort of real-world data might a dapp use?
When you’re ready, press Next to continue onto the next exercise.