Oracles: key words
Read the word, say the meaning out loud, then open the card.
Oracle
A service that brings information from outside a blockchain, such as a price, to smart contracts. Source
Oracle problem
The difficulty of making sure outside data is correct, available and honest, when a contract has to trust whoever supplies it. Source
Price feed
An oracle that keeps a current price on-chain for contracts to read, such as ETH in US dollars. Source
Aggregation
Combining many reports into one value, often by taking the median. Source
Deviation threshold
How far, in percent, the outside price must move from the on-chain price before a feed updates. Source
Heartbeat
The set time after which a feed starts an update even if the price has not moved. Source
Push oracle
An oracle whose operator keeps sending price updates to the chain, at set times or after big moves. Source
Pull oracle
An oracle whose signed prices wait off-chain until a user brings one on-chain in their own transaction. Source
Decentralised oracle network
A group of independent oracle nodes that agree on a value before it goes on-chain. Source
TWAP
Time-weighted average price: an average of a price over a period, so a short spike counts for little. Source
Oracle manipulation
Pushing around the price an oracle reads, so a contract acts on a false value. Source
Flash loan
A loan taken out and paid back within the same transaction. Source