The Importance of Oracles in Decentralised Finance

Price Oracles are a third party service that provides smart contracts with the data they need to execute, usually in relation to price. DeFi products are hybrid protocols that eliminate volatility while offering the benefits of decentralised networks. ChainLink has seen a meteoric increase of the use of their oracles over the last 18 months, and are currently utilised by some of the biggest DeFi teams in the world, including Kyber Network, Fulcrum, Opium Network, Synthetix and many more.