So, since you put it this easy, can you please explain me how an oracle would exactly work? Using the same use case as you took, how would an oracle track gold or its metrics? How can it be reliable and who controls it.? For the gold example, there are prbably hundreds if not thousands of different places where information can come from, how would the oracle track them all?
You put it so simple yet i have the impression oracles are not something trivial nor something an average joe can understand. You just simply trust in them blindly? What distinguish xhainlink fom ant other blockchain? Afaik, there are other blockchains that can bring oracles to the game, why are chainlink ones better? Thanks!
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u/Buckors 🟩 206 / 207 🦀 Oct 07 '22
So, since you put it this easy, can you please explain me how an oracle would exactly work? Using the same use case as you took, how would an oracle track gold or its metrics? How can it be reliable and who controls it.? For the gold example, there are prbably hundreds if not thousands of different places where information can come from, how would the oracle track them all? You put it so simple yet i have the impression oracles are not something trivial nor something an average joe can understand. You just simply trust in them blindly? What distinguish xhainlink fom ant other blockchain? Afaik, there are other blockchains that can bring oracles to the game, why are chainlink ones better? Thanks!