Event Trigger

An event trigger is a predefined condition that, once met, automatically starts an action without a person stepping in. In software generally, triggers fire when a record changes or a timer runs out; in crypto, the term usually describes the "if this, then that" logic in a smart contract. A contract might release funds from escrow when a delivery is confirmed, liquidate a loan when collateral falls below a threshold, or pay out an insurance claim when a flight is reported late. Because blockchains cannot see the outside world on their own, triggers based on prices, weather or sports results depend on a blockchain oracle to feed in the data, and a wrong or manipulated feed can fire the trigger falsely. Also see automated payments.