Oracles
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Revision as of 06:25, 25 May 2022 by Reggie (talk | contribs) (Created page with "Components of a Decentralized Oracle Network (DON) Data Feeds are an example of a decentralized oracle network, and include the following components: * A consumer contract - A Consumer contract is any contract that uses Chainlink Data Feeds to consume aggregated data. * A proxy contract - Proxy contracts are on-chain proxies that point to the aggregator for a particular data feed. Using proxies enables the underlying aggregator to be upgraded without any service interr...")
Components of a Decentralized Oracle Network (DON)
Data Feeds are an example of a decentralized oracle network, and include the following components:
- A consumer contract - A Consumer contract is any contract that uses Chainlink Data Feeds to consume aggregated data.
- A proxy contract - Proxy contracts are on-chain proxies that point to the aggregator for a particular data feed. Using proxies enables the underlying aggregator to be upgraded without any service interruption to consuming contracts.
- An aggregator contract - An aggregator is the contract that receives periodic data updates from the oracle network. Aggregators store aggregated data on-chain so that consumers can retrieve it and and act upon it within the same transaction.
Source: https://docs.chain.link/docs/architecture-decentralized-model/