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What is the role of oracles in Web3?

Lim How Wei
July 26, 2024

Marina Protocol is a global Web 3.0 tutorial platform with learning materials.

It provides beginners with easy-to-use content and advanced interfaces for activities.

Users can take part in Web 3.0 projects and get rewarded for their experiences.

Sign up using this link: marina-protocol.com/link/referral?code=FOLLOWCHAIN or use “followchain” as the invitation code.

To begin a quiz, open the Marina Protocol app, tap on “Learn & Earn”, and choose the correct answer.

In this guide, you’ll learn the answer to “What is the role of oracles in Web3?” in Marina Protocol.

What is the role of oracles in Web3?

Question: What is the role of oracles in Web3?

Answer: Providing external data to smart contracts.

Further reading

Which blockchain is often used for Web3 applications?

In Web3, what is meant by ‘tokenization’?

Which protocol is most closely associated with Web3?

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Lim How Wei

Lim How Wei is the founder of followchain.org, with 10+ years of experience in Social Media Marketing and 5+ years of experience as an active investor in stocks and cryptocurrencies. He has researched, tested, and written thousands of articles ranging from social media platforms to messaging apps.

Lim has been quoted and referenced by major publications and media companies like WikiHow, Fast Company, HuffPost, Vice, New York Post, The Conversation, and many others. One of his articles about the gig economy was quoted by Joe Rogan, who hosts The Joe Rogan Experience (the most popular podcast in the world), in the This Past Weekend podcast (the third most popular podcast in the world as of 2026) by Theo Von.

In his free time, Lim uploads personal finance videos on his YouTube channel, Lim Finance, to guide others on their financial journey. He also creates gaming guides, walkthroughs, solutions, and tips for the games he plays, helping players with their progression.