/biz/ - Business & Finance

resurrection

>>21119214
https://blog.chain.link/the-importance-of-data-quality-for-defi/

The ecosystem of Decentralized Finance (DeFi) applications and the value secured by blockchain oracles are scaling in tandem, mutually supporting the success and growth of one another. As the value secured by DeFi continues to grow at a rapid pace, so does the importance of ensuring that this revolutionary new decentralized financial ecosystem provides a higher level of security and reliability guarantees to its users.

The blockchain “oracle problem” is fairly well known, as many articles have examined this subject in detail. However, the topic of “data quality” provided by oracles still remains largely unknown and misunderstood. The misunderstanding is rooted in the often held assumption that oracles are used to both transfer external data on-chain and generate high-quality data. In our experience researching and building secure oracle solutions, blockchain oracles are designed to transfer data on-chain and harden data against manipulation, not create the data itself.

The separation of these problems (data delivery vs. data quality) has been applied to the architecture of the decentralized oracle networks powering Chainlink’s Price Reference Data, which are the most used oracles in DeFi and power over 90% of Ethereum’s decentralized derivatives market. Based on the success of these oracle networks in providing high-quality data to live applications, we've identified five essential components to solving the data quality problem.

>>21096075
here have this 1 fren, edit it however you want.
i know someone can do better.

https://www.youtube.com/watch?v=rDBbaGCCIhk