Garbage in, garbage out.

27 Sep 2023, 12:16

Garbage in, garbage out🗑️ In other words, if you use bad sources for your data feeds, you're likely to get bad information fed into your smart contract. Contrary to popular belief, blockchain oracles don't provide "true" information, and anyone who tells you differently is selling you something. Blockchain oracles are simply designed to retrieve a piece of data, and put it on-chain in an efficient manner. If your oracle promises to spot or detect fake information, you likely need to trust a central authority to facilitate that. This is why it is important to use high-quality sources and an actual decentralized oracle because the information collected from them will be the information fed into your contract. The goal of oracles is simply to guarantee that the information nodes have collected from the internet is an exact match to the information they have relayed on-chain. If this information is wrong because the source is wrong, the nodes will still relay it. That is simply a tradeoff of distributed and decentralized computing and why it is important to use highly-reputable sources. In other words, if your oracle is promising 100% truthful information that's 100% correct, then your oracle isn't decentralized because you are then relying on a specific node or group/category of nodes to say what is truthful and what is not.