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What Is a Blockchain Oracle? What Is the Oracle Problem? | Chainlink Engineering Tutorials

August 30, 2020 5:47 93

Watch this video to better understand why your smart contracts temuland crypto glossary smart contract Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met.Learn more and blockchain A blockchain is a digital ledger of transactions that works from a decentralized network. A blockchain is a digital ledger of transactions that works from a decentralized network.Learn more platforms can’t make API calls as part of their consensus mechanisms–this is also known as the blockchain oracle problem. Then, understand how Chainlink’s decentralized oracle network solves each one of these problems.

Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is critical to connecting the blockchain ecosystem to the rest of the world.

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