What is a decentralized oracle network?

A decentralized oracle network is composed of multiple blockchain oracles run by independent operators to gather and validate data from various off-chain sources. The responses from these oracles are combined to form a single trustworthy data point, usable in triggering smart contracts across different blockchains or any system requiring provably accurate information. The Bond Oracle consists of several decentralized oracle nodes operating independently, allowing, for instance, multiple nodes to aggregate off-chain data from different sources rather than relying on a single oracle. This decentralized approach ensures superior security and reliability for both on-chain and off-chain components of a decentralized application, preventing data manipulation.