ChainLink Token (LINKUSD)

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Oracle Computation: Expanding the Purpose of Oracles to Data Delivery and Off-Chain Computation

Key takeaways:

o The purpose of oracles extends beyond delivering external data to blockchains. Oracles can also perform a new type of trust-minimized off-chain computation on behalf of smart contracts, referred to as “oracle computation.”

o Oracle computation falls in between centralized Web 2.0 computation and decentralized blockchain computation, achieving more performance and feature richness than blockchains while being more tamper-resistant and transparent than Web 2.0 systems.

o Oracle computation extends the capabilities of smart contract execution by increasing scalability, cost-efficiency, and privacy, as well as granting access to new features like order fairness, verifiable randomness, off-chain aggregation, and transaction automation.

o Chainlink offers applications a vast array of services powered by oracle computation, including Chainlink Keepers, Chainlink Verifiable Random Function (VRF), Off-Chain Reporting (OCR), and the Cross-Chain Interoperability Protocol (CCIP).


https://blog.chain.link/what-is-oracle-computation/