WTF Are Blockchain Oracles and How They Make Smart Contracts Smarter

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Open blockchain smart contracts does not have the capability to guarantee information reliability outside of their own network, they can only read the data saved on their respective blockchain. Oracles seeks to tackle this problem by providing a best-effort claims about the real world and feeding them to smart contracts in a trusted and secure manner. Data provided by an oracle can be any type of data like for example temperature or current dollar value. There are different kinds of oracles based on different use cases such as software, hardware, consensus, inbound and outbound oracles.