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Oracles | ethereum.org

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Oracles provide Ethereum smart contracts with access to real-world data, unlocking more use-cases and greater value for users.

Oracles Copy .md Copy .md Edit page (opens in a new tab) On this page Oracles are applications that produce data feeds that make offchain data sources available to the blockchain for smart contracts. This is necessary because Ethereum-based smart contracts cannot, by default, access information stored outside the blockchain network. Giving smart contracts the ability to execute using offchain data extends the utility and value of decentralized applications. For instance, onchain prediction markets rely on oracles to provide information about outcomes that they use to validate user predictions.

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