Overview: There are a lot of buzz going around in the Blockchain space. No doubt it is a very robust technology that resembles the internet in the early ‘90: It packs the potential to change the way we live, work, consume and interact. As a lot of Dapps - Decentralize applications, Blockchain based applications, are being developed these days, it is very important to think of what are the use cases that should go for Blockchain and what should not or not needed.

Those who are working on Blockchain, especially on Ethereum, must have heard about Smart Contracts. They are fully fledged programs, written in Solidity - language similar to javascript, that runs on Ethereum blockchain. When contracts get compiled, they get converted into opcode - instructions to be executed on the machine - and execution of these opcodes consumes Gas - Gas is the execution fee for every operation made on Ethereum. While writing contract code we have to be very careful otherwise, a user can end up losing a lot of Gas.

I am going to write this topic in couple of blogs. So that reader will get complete exposure of oracle services providers, like Oraclize in particular. In my first blog post I will try to give a brief overview of Oracle services. Basically dealing with questions like, What are Oracles? What is Oraclize? What is the use of such services? Etc. In the subsequent blog, we will try to use the Oraclize service with our smart contract and further we will take a deeper look into, how it works under the hood?

Blockchain tech, especially smart contracts, are the hot new “internet”. Post the creation of Bitcoin, we’ve seen the rise of the public smart contract system Ethereum and several “private” systems like The Linux Foundation’s Hyperledger. These distributed ledgers have become the hot new foundation to build apps on top of, leveraging the additional trust that they are supposed to provide by virtue of their distributed nature.