From supply chain to DeFi: How blockchain oracles can transform industries

cointelegraph.com:

Decentralized blockchain oracle service Goracle provides real-world information so anyone can build better Web3 apps based on off-chain data.

The blockchain ecosystem was changed forever with the introduction of smart contracts — digital agreements between two parties that can be executed automatically based on certain conditions. From finance to supply chains, the possibilities that building upon smart contracts opens are nearly endless. However, as blockchain only holds transactional data between participants, smart contracts need a constant flow of information from the real world, like stock prices or shipment locations, to check the status of their subjects’ conditions.

This is where blockchain oracles — service networks that bridge blockchain to the outside world — come into play. Oracles provide a wide range of real-world data so that smart contracts can understand what’s going on and act upon that information. Once a reliable connection with off-chain information is established through an oracle, it becomes possible to build any number of decentralized applications (DApps) to utilize the transparency, security and decentralization of blockchain in real-world use cases.

Web3 developers aiming to bring real-world utility to blockchain rely on oracles to tap into off-chain resources for information. Goracle, a decentralized blockchain oracle service, has set out to provide secure and reliable real-world data to blockchain networks in order to fuel a new era of Web3 innovation, where anyone can build and grow a business around a specific use of smart contracts.

From decentralized finance (DeFi) and supply chains to gaming and sports, Goracle enables building DApps that benefit from established data sources. Using the