Oracle network protocol usage

1.

Why is blockchain needed
oracle data ?

Blockchain specialize in immutable storage, deterministic, verifiable computing. However, they do not have access to trusted real-world information that is available outside their networks. The Oracle Network protocol enhances the capabilities of smart contracts, allowing them to access reliable data without any central point of failure

2.

Usage Oracle Network Protocol
Provide trusted data DeFi

Decentralized financial applications need to provide prices in the process of token exchange and loan collateralization. With the built-in Oracle Network Protocol price prediction system, developers can have absolute confidence in Defi because the prices they give are stable and reliable

3.

More usecase will be developed non Defi-related topic

Oracle Network protocol flexible Oracle design allows developers to work with any kind of data, including real-world events, sports, weather, decentralized banking, random numbers and many more
Developers can use WebAssembly to create custom Oracle to connect smart contracts to traditional Web APIs in minutes

4.

Here Multiple blockchain usage
Oracle Network protocol

Oracle Network protocol is designed to be compatible with most smart contract and blockchain development frameworks
It does the tedious work of extracting data from external sources, aggregating it, and packaging it into an easy-to-use format, and effectively verifying it across multiple blockchains