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Quantitative Finance · Glossary

What is Smart contract, oracle?

Also known as: smart contract · oracle

Definition 14.5 Markets III: Commodities, Energy and Crypto · Chapter 14 — Blockchains for Traders

A smart contract is a program deployed on a blockchain whose code and state are public and whose functions anyone can call by sending a transaction; the chain executes it and records the result. An oracle is a mechanism that brings data from outside a chain (a price, an event’s outcome) into a smart contract.

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