tldr; The decentralized finance (DeFi) ecosystem has grown at an explosive rate, reaching a high of almost $200 billion in November 2021, rivaling the GDP of many nation-states and top corporations. Most of the growth of DeFi is due to the rise of decentralized oracles, which allow blockchains to access external data on their own. However, using centralized oracles could negate the advantages of having a smart contract, which raises significant privacy issues.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.