Vitalik Sounds Alarm on Oracle Risks in Ethereum DeFi

Ethereum co-founder Vitalik Buterin has warned about the potential security risks associated with oracles in decentralized finance (DeFi) systems.

According to Buterin, these oracles are a 'hidden time bomb' that could threaten the stability of DeFi applications.

The term 'oracle' refers to a service that provides external data to smart contracts, enabling them to make informed decisions.

However, Buterin's concerns highlight the need for more robust security measures in DeFi systems, which rely heavily on oracles to function properly.