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  1. Home
  2. /Glossary
  3. /Oracle Network
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blockchain

Oracle Network

A decentralized system of nodes that delivers real-world data to smart contracts.

Definition

A decentralized system of nodes that delivers real-world data to smart contracts. Chainlink is the biggest oracle network, providing price feeds, weather data, and random numbers to thousands of DeFi protocols. Without reliable oracles, DeFi can't function because smart contracts can't access off-chain data on their own.

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Related Terms

Oracle

A service that brings external data onto the blockchain.

Smart Contract

Self-executing code stored on a blockchain that runs when conditions are met.

DeFi (Decentralized Finance)

Financial services built on blockchain without traditional intermediaries.

ABI

Application Binary Interface.

Account Abstraction

A way to make crypto wallets behave more like normal apps by turning every account into a smart contract.

ERC-4337

The Ethereum standard for account abstraction without changing the core protocol.

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