Education in crypto is the key. If we want crypto to be our future, we need to know what it is all about.

Decentralized WEB-3 ecosystems can’t just gather data from non-blockchain sources (external data sources), they need something to help them access it. They do this with the help of oracles.

Oracles provide a way for the decentralized Web3 ecosystem to access existing data sources, legacy systems, and advanced computations. 

How do they help?

Blockchains have smart contracts, but their inability to communicate with off-chain data is a drawback.

Huge drawback!

This prevents smart contracts from altering their information based on information and events from the actual world.

And if you can’t connect crypto to the real world, what would be the point. Right?

By bridging the gap between off-chain and on-chain data, oracles address this issue.

Oracles can link to real-world sensors, devices, and databases, including physical sensors, web APIs, satellite images, weather data, legal data, and more, and can export that data to the blockchain.

This is more than enough knowledge for crypto noobs like me.

But if you wish to know more about them – I found great examples and explanations in this article.