Centralized Oracle

A Centralized Oracle is a centralized service that provides real-world data to smart contracts on the blockchain. It serves as a bridge between off-chain and on-chain data, allowing decentralized applications (dApps) access to external information necessary for executing smart contracts. Unlike traditional finance (TradFi), where information may be sourced from various institutions and may lack transparency, centralized oracles provide a single source of truth, which can lead to faster and more reliable outcomes for dApps that require external data.