In the blockchain world, an ‘oracle’ is a smart contract that makes ‘real world’ data available to be used in other smart contracts. These live data feeds can be used as conditions to trigger transactions on-chain (payments, reputation, etc). The quality and availability of this data is extremely important. Some are reliable and trustworthy, some others are not. The oracles provided by Websensors have these abilities and they’re transparent because both the algorithm and datasets used are public and therefore auditable. The iExec Proof-of-Contribution protocol guarantees the off-chain execution of each computation and this is essential in the context of creating powerful decentralized apps.
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