# Oracles ## Overview Blockchain oracles are third-party services or agents that provide smart contracts with external information and serve as bridges between blockchains and the external world. Because blockchains cannot access external data (outside of their network) due to their secure and deterministic nature, oracles are used to fetch, verify, and relay real-world data to smart contracts in a way that's trustworthy. ## Use Cases ### Decentralized Finance (DeFi) Oracles provide price feeds, enabling DeFi platforms to calculate token values, manage collateral, and execute liquidations. By sourcing data from various exchanges and financial platforms, oracles contribute to the robustness of DeFi applications. ### Gaming Blockchain-based gaming and betting platforms use oracles to determine the outcomes of events, such as sports matches or random number generation. By connecting to various data sources and verifying results, oracles ensure fair and transparent gaming experiences. ### Insurance Oracles can be employed in the insurance industry to automate claims processing and underwriting. They can fetch data related to weather conditions, flight delays, or health records, enabling insurers to create parametric insurance products. This reduces fraud and ensures quicker payouts based on predefined triggers. and much more... --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.re.al/services/oracles.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.