What are Oracles and where are they needed for? And are they already Oracles, because everbody talks about them in the Future

1 Answer 1


This is what it says on the IOTA Development Roadmap:


One of the main ways to extend the utility and applications of IOTA is through oracles. Through this one can feed outside data, such as timestamps, into the IOTA network. You can expect some exciting announcements here.

Stage: Advanced development

A problem with smart contracts is that they can't access real world data. They only know about what's happening on their own Blockchain/Tangle. Oracles are third party services that find and verify real-world occurrences and submit them to the Tangle so that they can be used by smart contracts.

Since they are third party services, people have to trust them, otherwise their information is useless (because it might not be true).

Further information:

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