{"id":59721,"date":"2023-03-31T07:19:24","date_gmt":"2023-03-31T07:19:24","guid":{"rendered":"https:\/\/www.techopedia.com\/?post_type=definition&p=59721"},"modified":"2023-12-07T14:17:05","modified_gmt":"2023-12-07T14:17:05","slug":"oracle-blockchain-oracle","status":"publish","type":"definition","link":"https:\/\/www.techopedia.com\/definition\/oracle-blockchain-oracle","title":{"rendered":"Oracle (Blockchain Oracle)"},"content":{"rendered":"

What is an Oracle?<\/span><\/h2>\n

An oracle is a third-party service that enables a smart contract<\/a> to access data from an external source.<\/p>\n

The service acts as a bridge between a blockchain<\/a> and information in the real world. Without this middleware layer, smart contracts would only be able to access data already on the blockchain. This would limit the usefulness of smart contracts in decentralized finance (DeFI<\/a>), supply chain management (SCM<\/a>), gaming and entertainment.<\/p>\n

Here are some examples of the types of information that an oracle might be requested to find and return:<\/p>\n