Trustless oracles are a key component of the blockchain infrastructure stack that validate and enable smooth communication between external data sources and on-chain environments. They are crucial in ensuring the authenticity, security, and decentralization of blockchain technologies. By connecting blockchains to external pools of real-world data through enabled smart contracts, oracles can compile, organize, and validate information in a secure way free of compromise, making them useful in virtually any industry.
In the metaverse, oracles will be essential in making metaverse experiences as realistic, accurate, and complementary to our in-person reality as possible. Oracles serve as the sturdy bridge connecting the real and virtual world while providing potentially massive value by unlocking tools for dApps such as lotteries, loot boxes, randomized NFT projects, play-to-earn games, raffles, and more. The ability to offer these services in a truly autonomous, trustless, decentralized way will help create more robust and fair metaverse experiences across augmented reality, artificial intelligence, and NFTs.
