Decentralizaed Oracle vs. Centralized Oracle

Description

The blockchain oracle connects blockchains to external systems, enabling smart contracts to execute based on real-world inputs and outputs. Oracles allow decentralized Web3 ecosystems to access existing data sources, legacy systems, and advanced computations. With decentralized oracle networks (DONs), advanced decentralized applications (dApps) can interact with traditional systems by combining on-chain code with off-chain infrastructure. In this article, we will see how a blockchain oracle works, how it makes blockchain systems more secure, and also compare it with a non-blockchain or centralized oracle.