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Create a doc explaining the need for blockchain oracles #26

Open DanFTW opened 3 years ago

DanFTW commented 3 years ago

Use layman's terms to convey message.

SajidAbdurrahman commented 3 years ago

Draft: Blockchain oracles provide a means of storing data into a larger system by a type of identification that is in no way significant or revealing. We already see these methods employed in countless avenues of the industrial world; for instance, a bar-code is useless without a scanner. In short, items (or investments) can be accounted for and tracked, but only for those to whom they’re intended.

Now we might see why blockchain oracles are often regarded as a perfect verification method, eliminating any possible margin for fraud or mix-ups. Moreover, blockchain oracles help in maximizing accurate decision-making by delivering data in real time. Within the context of cryptocurrency, it’s worth noting how this all fits in within the common aim to decentralize money and restore freedom to buyers and sellers.