Blockchain is emerging as an ideal solution as society demands arbiters of truth and Web3 grows, but it still needs to address the issue of trust between the digital and physical world. What can be done to solve the oracle problem? (via CointelegraphZN)
Some believe the answer to the oracle problem is simply to avoid relying on a single data source, or node. Along these lines,
“Decentralized oracles have done a good job in unlocking value for DeFi, but I think the future will see more first-party oracles being utilized in a composable manner to create blockchain-based applications that have oracle use-cases that go way beyond what we currently see in the market,”On the decentralization question, Chainlink is a sort of hybrid, others suggest. It uses multiple data sources for price feeds, so in that sense, it is decentralized.
“As the market starts to mature, and both DApps and their respective user bases start to look for more sophisticated applications, Moreover, it would be a great loss if blockchain oracle technology never evolves much beyond providing price feeds for DeFi projects, adds Petrowski:
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