“Provable”, formerly known as “Oraclize”, is a service known as an ‘oracle’, built specifically to address this problem. An oracle acts as a relay by aggregating data from external sources such as random number generators, price tickers & computational engines. Once the data is collected, the oracle feeds it into a smart contract.
DeFi is the domain of financial services built using decentralized technologies. These services are financial primates, such as lending, borrowing, swap, trading, asset management, etc.
If you have been following blockchain space for a while, you must have come across the word Dapps. but what are Dapps?
The wallet that interacts with smart contracts is called a smart contract wallet. In other words, these wallets enable different types of activities such as buying or selling tokens, token exchange, dapp interaction, trade, borrow or lend, etc.