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Chainlink's decentralized oracle network is an open-source technology infrastructure that allows any blockchain to securely connect to off-chain data and computation resources. The network nodes fetch, validate, and deliver data from multiple sources onto blockchains to execute smart contracts.
an entry oracle executes the code that is actually stored on-chain and provides the result (say, the bitcoin price matching the condition) as an input to the contract; an exit oracle handles the results of the smart contract (for example, paying a fee) by manipulating a real-world device (say, opening a door). It code can also be stored on-chain;
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Chainlink is a type of fencing using woven steel. It may also refer to: Chains, a series of linked pieces; Chain linking, a statistical method to consistently combine two indices; Chainlink cactus, a shrubby cactus found in arid regions of North America; Chainlink moray eel, a moray eel from the Western Atlantic
The solution to the issue of access to information may require use of so-called 'Oracles' – an external party (or a machine) providing the judgement to determine whether or not respective conditions under the agreement have been met. [2] "Turning again to the interest rate swap example, an oracle could be used to provide interest rate ...
A decentralised application (DApp, [1] dApp, [2] Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system. [3] Like traditional applications, DApps provide some function or utility to its users.
The USD value of the collateral at any given time divided by the amount of DAI borrowed is the loan's "collateralization ratio"; this is calculated using the USD price of a unit of the collateral asset as reported regularly to a contract by a set of decentralized oracles. Each loan type has a fixed minimum collateralization ratio, which is ...