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Oracle

What is an oracle​

Oracles are external services that provide smart contracts with real-world data, allowing them to interact with external systems and trigger certain actions based on that information. Since blockchains are inherently isolated and can only access data within their network, oracles serve as a bridge between the on-chain and off-chain worlds.

For instance, they can supply information such as price feeds for cryptocurrencies, weather conditions, or even the outcome of an election, which smart contracts can then use to execute predefined rules. They are critical to enabling a wide range of decentralized applications (dApps), especially in sectors like decentralized finance (DeFi) and supply chain management.

How to use Shiba's oracle​

To get started with our oracle, you need to head to the developer portal and acquire an API key. The oracle section of the website will also provide you with the oracle smart contract address, the pricing for calls and a dynamic code snippet you should use to implement this solution in your own project.

As of its launching, the oracle can mainly fetch live token pricing but the Shiba Inu team aims at providing a broader range of real-time data in the near future.

In order to utilize this off-chain data in your projects, you will need to deploy a smart contract. We will you teach you how to write those applications on the next sections.