In ancient Greek mythology, an Oracle referred to a place or person who received prophecies and divine inspiration from the gods and relayed them to humans. This concept applied both to sacred sites (such as the Temple of Delphi) and to the seers themselves (like the priestess of Delphi).
In short, Oracles in ancient Greek mythology served as intermediaries between the world of gods and humans, providing answers to important, life-altering questions.
Pythia: This word was the name of the priestess or female seer who received divine inspiration from Apollo and conveyed the answers to the people. Perhaps this name reminds you of a well-known oracle that airdropped tokens last year (Pyth Network), and now you know where its name originates.
In The Matrix film, the Oracle is not just a character but a concept. She appears as an intelligent program within the Matrix, capable of foretelling (or rather, guiding) future events. However, her role in the film goes beyond mere prophecy and can be compared to the role of oracles in ancient Greek mythology.
Similarities to Mythological Oracles:
Intermediary Between Worlds: Just as the oracles of Greek temples acted as intermediaries between gods and humans, the Oracle in The Matrix is also an intermediary between two levels of reality: the real world (outside the Matrix) and the simulated world (the Matrix). With her understanding and awareness of both realms, she can offer messages and guidance that are incomprehensible to the inhabitants of the Matrix.
Prophecy or Guidance: In mythology, oracles helped people by predicting the future. In The Matrix, the Oracle also guides Neo along his chosen path by foreseeing (or, in a sense, engineering) future events. She doesn't explicitly say what will happen, but rather encourages Neo to realize his potential and make crucial decisions by providing clues and tests.
Ambiguity and Interpretation: Like the oracles of mythology, the Oracle's answers in The Matrix are often ambiguous and require interpretation. She uses aphorisms and symbols whose true meaning only becomes clear with time and experience. This ambiguity encourages individuals (like Neo) to seek the truth themselves and gain a deeper understanding of their situation.
Catalytic Role: In The Matrix, the Oracle is more of a catalyst than a mere prophet. By providing information and tests, she helps Neo discover his true identity as "The One." In other words, she doesn't impose a destiny on Neo but enables him to shape his own destiny.
Power and Influence: In mythology, oracles had great power and influence because of their connection to the gods. In The Matrix, the Oracle, as an intelligent program aware of the Matrix's structure, also wields considerable power and influence. She can manipulate the system and guide events in the direction she desires.
In Context of Blockchain
Now, how can this interpretation be related to the role of oracles in the blockchain?
Just as oracles in Greek mythology and The Matrix served as intermediaries and providers of information, oracles in the blockchain world play a similar key role. In fact, smart contracts, on their own, cannot access data from outside the blockchain. This is where oracles come into play as a bridge between the real world and smart contracts.
Intermediary Between Worlds: Like mythological oracles, blockchain oracles are intermediaries between two separate worlds. They bring real-world data to blockchain smart contracts, enabling the automated execution of these contracts.
Prophecy (Data Delivery): Blockchain oracles do not "prophesy," but they provide data. This data acts like clues that help smart contracts make decisions based on real-world conditions.
Ambiguity and Interpretation: Similar to the ambiguous answers of oracles, oracle data must also be interpreted correctly. Smart contracts must have the ability to process this data and make decisions based on it.
Power and Influence: Oracles in the blockchain, like mythological oracles, possess significant power and influence. If an oracle provides incorrect data, it can unintentionally affect smart contracts. This is why selecting reliable and secure oracles is crucial in the blockchain.
Oracles are particularly crucial in the decentralized finance (DeFi) ecosystem. Many DeFi applications, such as decentralized exchanges (DEXs), lending and borrowing platforms, and stablecoins, require accurate and up-to-date data for proper and secure operation. For example:
Decentralized Exchanges (DEXs): Require real-time price data to determine the prices of assets.
Lending and Borrowing Platforms: Need the prices of various assets and market data to determine collateral ratios and calculate interest rates.
Stablecoins: Must rely on price data of fiat currencies (such as the US dollar) to maintain their price stability.
If oracles provide inaccurate or manipulated data, it can lead to loss of capital, exploitation of smart contracts, and a loss of trust in the DeFi ecosystem. Therefore, the security, accuracy, and reliability of oracles are absolutely vital.
Among the various oracles in the blockchain ecosystem, RedStone has emerged with a distinctive and innovative approach. As a modular oracle, RedStone is revolutionizing how data is delivered to smart contracts by offering a variety of services, such as Pull, Push, X models, and RedStone ERC7412 across 50 different blockchain networks. The main difference between RedStone and other oracles is that it provides data to projects on-demand, with lower costs, greater flexibility and breadth, and complete security, which will be explained in detail below.
On-Demand Data: Instead of oracles continuously pushing data to contracts (the Push model), RedStone smart contracts only request data when they actually need it (the Pull model). This significantly reduces transaction costs and increases network efficiency.
Lower Costs: By eliminating the continuous sending of data, RedStone significantly reduces the costs associated with using oracles for developers and users.
Flexibility and Breadth: RedStone supports a wide range of diverse data sources and can provide various types of data for different applications.
Security: RedStone ensures data comes from trusted sources and is tamper-proof through the use of digital signatures.
Given these features, RedStone, as a modern and efficient oracle, can play a crucial role in the development of the DeFi ecosystem and the broader adoption of smart contracts.
