Working with oracles
Oracles play a vital role in bridging the gap between the blockchain network and the real world, enabling real-world data and services to be integrated into decentralized applications. In the decentralized world, several top oracle providers are widely used and trusted for their reliability and accuracy in delivering external information to blockchain systems. Here are the top 10 Oracle providers by Market Cap (from coingecko):
Figure 15.3 – Top 10 Oracle providers by Market Cap (from coingecko)
Now that we have an overview of the top 10 current oracle providers from the preceding diagram, let’s explore each of these providers in detail:
- Chainlink: The Chainlink network, which uses the LINK cryptocurrency, was launched in June 2017 and is the leading oracle provider in the market. It is a decentralized blockchain oracle network built on Ethereum. The network provides secure and tamper-proof data from off-chain...