Oracles
By Cryptomcmillan1 | Updated on May 24, 2020
In the context of crypto, oracles refers to services which verify real-world and provide data to blockchains/smart contracts. Oracles are needed for decentralized programmes to function trustlessly as using data from a centralized source would cause a programme to have a weak spot that can be easily manipulated.
Related Terms
Token
Blockchain based unit of value issued by an organization, which grants token holders a right to participate in a network.
Application-Specific Integrated Circuit (ASIC)
Refers to specialized computers that are made to do a very specific task (eg. calculate hashes for Bitcoin's Proof-of-Work)
Bearish
A term used to indicate negative sentiment towards the market or an asset, where investors believe that there will be downward price movement.
Emission
The speed/rate at which new coins are minted and released as dictated by the protocols written.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.