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What is Decentralized Oracle Network (DON)?

Crypto Terms Glossary: What is Decentralized Oracle Network (DON)?

Generally, a decentralized oracle network (DON) refers to a network of decentralized blockchain oracles that provide external data to blockchains or requesting smart contracts. With many different data sources and an oracle system that isn't controlled by a single entity, DONs provide increased security and transparency to drastically improve smart contract functionality. For example, Chainlink and Band Protocol are two popular DONs.

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