Oracle Coin

Oracle Coin refers to a type of Cryptocurrency or digital token that is associated with or used in conjunction with oracle services. Oracles are systems that provide real-world data to Smart Contracts on a Blockchain, enabling them to execute based on external information.

Oracle Coins often serve as a means of incentivizing data providers, ensuring that accurate and timely information is delivered to Smart Contracts. They can be used to pay for oracle services, reward data validators, or as Collateral within Decentralized Finance (DeFi) applications.

For example, a Blockchain-based prediction market may utilize Oracle Coins to obtain live sports scores or Stock prices, allowing users to bet on outcomes based on real-time data. Another case is a DeFi lending platform that uses Oracle Coins to verify the current value of Collateralized Assets, ensuring accurate loan-to-value ratios.