Oracle
A service that provides smart contracts with external real-world data, bridging the gap between on-chain logic and off-chain information.
DIO interest rates reference off-chain benchmarks (SOFR, inflation indices). VRDIs require GPS coordinates and timestamps. The RENSNCE ecosystem uses decentralized oracle networks (Chainlink, Pyth) to feed this data on-chain. Optimistic oracles with dispute windows catch errors before they become permanent.
Related Initiatives
Related Concepts
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Verified Resource Delivery Instrument
A tamper-proof on-chain certificate (VRDI) proving that a specific resource—aid, goods, or services—was delivered, verified, and received by the intended recipient.
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DePIN
Decentralized Physical Infrastructure Networks—protocols that incentivize the rollout of real-world hardware (sensors, solar panels, wifi) using cryptographic tokens.
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Smart Legal Contract
A legally binding agreement where natural language clauses are paired with executable code that automatically enforces the terms.