Oracle
An Oracle in blockchain refers to a third-party service that provides external information to smart contracts, playing a role in connecting the blockchain with the outside world. It serves as a bridge between the blockchain and the real world. For a complete understanding of oracles, you can refer to the Easy DeFi article on Complete Understanding of Oracles.
There are various resources available to learn more about oracles. One such resource is an article on Oracle by . Additionally, you can explore the article What is Oracle? Blockchain | block-chain.jp by Consensus Base, the blog post Ethereum and Oracles | Ethereum Foundation Blog, and the Qiita article Calling External API from Solidity (Oracle Pattern) - Qiita. For a hands-on technical experience, you can also check out the tkgshn.icon*3 tutorial.
Another informative resource is an article written by shingen_crypto, which provides a clear explanation of oracles. You can find it at [Special Feature What is a blockchain oracle? | Virtual currency column | For virtual currency (cryptocurrency) comparison and ranking, go to HEDGE GUIDE]. The article highlights that an oracle refers to the act of referencing data, with price data such as tokens being the most representative form. You can refer to the provided https://gyazo.com/299449e7c73ec2b5f8ca53ab88e19235 diagram to understand the basic structure of the Chainlink price reference oracle.
In addition to price reference oracles, other types of oracles are also utilized in the blockchain ecosystem. For example, Uniswap provides oracles that offer weighted average prices over a certain period of time, and specific platforms provide their own custom price reference oracles. Various price reference oracles are available and utilized in different ways.
Furthermore, oracles play a significant role in real-world events, particularly in Prediction market and Insurance applications. However, determining what constitutes a valid result can be challenging in these cases. You can refer to the provided https://gyazo.com/f69ff8ae6b2ad8fdf28a50195f2ded7b image for a visual representation.
The decentralization of price reference oracles is also an important topic to consider. It ensures that the process of referencing data is not controlled by a single entity, promoting transparency and reliability.
For a comprehensive understanding of oracles, their mechanisms, and associated risks, you can refer to the article オラクルの基本、仕組み、リスクを理解する | HashHub Research. The article provides insights and even includes a humorous example from Wikipedia, as shown in https://gyazo.com/4bbe376c24dfd49cde7b15e2a429c9e7.
Lastly, there is a concept of Hardware Oracle, which involves using hardware devices to provide oracle services. You can refer to the provided https://gyazo.com/07f80f44bf9da535b0c61267fb04b7e2 image for more information.