1. Introduction
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Blockchains can't interact with real world data and events
Any device that interacts with off chain world to provide external data or computation to smart contracts
We need decentralized oracle network
An agreement, contract or set of instructions that is deployed on a decentralized blockchain.
A smart contract is
Cannot be altered (immutable)
Automatically executes
Everyone sees terms of agreement
Combining off chain decentralized logic with off chain decentralized data and decentralized computation gives rise to hybrid smart contracts
It is a decentralized oracle network
The permissionless open sourced web with static content
The permissioned web, with dynamic content. Where companies run your agreements on their servers
The permissionless web with dynamic content. Where decentralized censorship resistant networks run your agreement and code.
Stands for Decentralized Finance
Stands for Decentralized Autonomous Organizations
Stands for Non Fungible Tokens
Mechanism used to agree on state of blockchain
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