Create your own oracle with an Ethereum smart contract
Blog post from LogRocket
The article provides a detailed guide on developing an oracle using Ethereum smart contracts, specifically focusing on leveraging Chainlink to connect blockchain with off-chain systems. It explains foundational concepts such as blockchain, Ethereum, smart contracts, and oracles, emphasizing how oracles serve as bridges between on-chain and off-chain environments. The article outlines the process of creating two smart contracts: one using ChainlinkClient to fetch Bitcoin prices from an external API, and another utilizing Chainlink Data Feeds to retrieve Ethereum prices securely. It also discusses setting up developer tools like MetaMask and Remix IDE for testing on the Kovan test network. The tutorial illustrates the importance of trusted data sources in decentralized applications (DApps) and highlights Chainlink's role in providing reliable data feeds. The article concludes by emphasizing the significance of secure oracles in enhancing blockchain capabilities and mentions tools like LogRocket for monitoring DApp performance.