Price Oracles in Blockchains

Term explanation

Price Oracles in Blockchains are external data providers that supply information, such as asset prices, to blockchain-based smart contracts. These oracles play a crucial role in decentralized finance (DeFi) platforms and other blockchain applications that require up-to-date, accurate, and reliable pricing data. Price oracles can be centralized or decentralized, with the latter being more resistant to manipulation and single points of failure, however, external, decentralized oracles can be expensive to retrieve on chain, and can be more succeptible to manipulation