What is Optimistic Oracle?
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Let's find out Optimistic Oracle meaning, definition in crypto, what is Optimistic Oracle, and all other detailed facts.
An oracle that combines real-world data with decentralized systems and in which the data is accepted as true (if it hasn’t been disputed for a certain period) is referred to as an optimistic oracle. The optimistic oracle is different from the price-feed oracle, which streams prices on-chain without recourse or error protection.
Optimistic oracles can be employed in different ways than to price-feed oracles due to their unique design. They can offer arbitrary data and long-tail information requests in addition to asset prices that price-feed oracles might not be able to support.
Since inaccurate data can be challenged, the optimistic oracle protects smart contracts and users from external data feed tampering. Other oracle systems are only as secure as their data stream, therefore this is a unique feature of optimistic oracles.