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37 lines
1.0 KiB
Markdown
37 lines
1.0 KiB
Markdown
## 🍋 oracles
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<br>
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### tl;dr
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* Oracles provide a trustless way of getting extrinsic (off-chain) information.
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* They provide the some key functions such as collect data from an off-chain source, transfer the data on-chain with a signed message, and make the data available by putting it in a smart contract’s storage.
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* price oracles are any tool showing an asset's price but in context of defi
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<br>
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---
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### in this repo
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* [TWAP oracles](twap.md)
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<br>
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----
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### chainlink
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A decentralized oracle network consisting of three key smart contracts:
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* a reputation contract: keep track of data providers' performance.
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* an order-matching contract: selects bids from oracles using the reputation contract.
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* an aggregation contract—and an off-chain registry of data providers.
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One of the main challenges with such a decentralized approach is the formulation of the aggregation function.
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ChainLink proposes calculating a weighted response, allowing a validity score to be reported for each oracle response.
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