An Oracle allows decentralised blockchain networks to gain real-world information (offchain) such as the weather, the economy, and news that can be used to determine the value of the block or even be used to randomise information. They provide the information needed to perform tasks if a set of conditions are met gained by that information.
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What is it in Versatus?
In Versatus, the Oracle network is executable. This means, unlike traditional Oracle networks, they are programmable. This means, developers can execute functions within the Oracle network to allow flexibility (?) and fine-grained control. This is called an Executable Oracle.
This means that instead of let’s say, a Smart Contract, executing a function if a condition is met within the blockchain gained from information offchain, there is also another function on the Oracle network that also does a thing but might or might not be different from the said smart contract. This allows Versatus to allow execution of tasks offchain.
Versatus has an Executable Oracle to simulate a stateless rollup to power language agnostic, settlement layer agnostic smart contracts