What is an Oracle?

Zap provides a marketplace for data feeds and a network mechanism for oraclizing those data feeds for use in smart contracts and decentralized applications (Ðapps).

Oracles are the delivery mechanism of external data into deterministic smart contracts. Without oracles, smart contracts are only able to use information that is stored directly on the blockchain.

It is currently relatively difficult to find high-quality ready-made oracles for use in smart contracts. We believe that with easy access to a wealth of oraclized data feeds, more and more Ðapps and smart contracts will begin to appear with real-life utility and value.

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