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Oracle services play a critical role in blockchain by providing external data to smart contracts. They act as bridges between the blockchain world, which is typically isolated from external information, and the real world, where data such as prices, weather conditions, and events can affect the behavior of smart contracts.
With Spydra, oracles are used to bring external data into your blockchain network. Oracles can be used to fetch data on demand or at a defined frequency.
Schedule an Oracle:
One of the key features of Spydra is the ability to schedule an oracle to obtain off-chain data at a defined frequency. By adding a scheduler to the smart contract, users can automate the process of fetching data at regular intervals. This not only ensures that the data is up-to-date but also enables the creation of efficient and streamlined workflows within the blockchain network.
Data on Demand:
In addition to scheduled data retrieval, Spydra also allows users to call the oracle on demand. This means that users can simply invoke the oracle whenever they need to access external data for performing various operations or executing workflows on the blockchain. This flexibility empowers users to have real-time access to the most relevant and current information whenever it is required.