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ChainLink is a blockchain platform that is building a protocol to facilitate better usage of smart contracts for real world applications. Launched in 2017 by Sergey Nazarov, the platform’s use cases can roughly be described as focusing on digital agreements.
There are two core components to ChainLink’s architecture: on-chain infrastructure, i.e. smart contracts; and off-chain infrastructure, i.e. real world data meant to be used with the smart contracts. The whole platforms comes together with ChainLink’s decentralized oracle network, which uses multiple nodes to deliver data to smart contracts and avoid single points of failure.
ChainLink node operators can offer an API for purchase by smart contracts, and larger companies can sell their data to smart contracts.
ChainLink is already working with several established companies, including Google and the Web3 Foundation. Founder of popular digital signing platform DocuSign, Tom Gonser, is also an advisor to the project.
The project does not have a roadmap. However, its Github repo and Pivotal tracker offers a good glimpse into development progress. Both contain detailed information on what the development team has in mind for the upcoming months. Current development tasks include multi-account wallets, service agreements and general network upgrades.
20 Nov 2024 1 minute read 4 comments Galaxie Crypto
Just two days ago, I explained in one of my articles the major success of Chainlink with its collaboration with the interbank network SWIFT to implement tokenization. The recent announcement by Chainlink is making a big splash as it is a world firs...
18 Nov 2024 1 minute read 0 comments Galaxie Crypto
Chainlink has just announced a major development of the Chainlink Runtime Environment. It is a framework to connect banks and cryptocurrencies. Since 1959, the banking world has only experienced a major system revolution in the 1990s with the JRE (...
14 Nov 2024 1 minute read 0 comments Keith Thuerk
World Liberty Financial tapped Chainlink to drive mass DeFi adoption What is World Liberty Financial (WLFI)? the nascent decentralized finance (DeFi) protocol supported by Donald Trump and his family, said Thursday that it will use data provider Ch...
8 Nov 2024 2 minute read 3 comments Myxoplixx
Coins and tokens are two distinct types of digital assets in the crypto world, though they are often used interchangeably. Understanding their differences is crucial for anyone looking to invest or participate in the crypto market. Despite their dif...
5 Nov 2024 2 minute read 2 comments Myxoplixx
In this final installment of our 100X crypto gem search series, I've explored how to identify promising opportunities in today's dynamic and complex market. Throughout our discussions, I've emphasized the paramount importance of technical architectu...
24 Oct 2024 1 minute read 1 comment Keith Thuerk
Chainlink integrates Institutional Systems on SWIFT Chainlink reached another major milestone with their ecosystem partner SWIFT. Founder Sergey stated Chainlink has completed their system which connects legacy finance to the blockchain realm. He...
18 Sep 2024 1 minute read 2 comments Keith Thuerk
SWIFT the Global Payment Giant Unveils Plan to Integrate Digital Assets and Currencies What is SWIFT? SWIFT is a global network used to transfer funds, not a settlement nor a clear system. Yes, they learned how to digitally transfer money decades a...
27 Aug 2024 1 minute read 1 comment Biz Wisdom
I bought 50 Bitcoin in 2011. Could have bought more but was scared. Lost most of them with Mt. Gox getting hacked. Expect to get about 18% back after the bankruptcy proceeding civil rehabilitation pays everyone back. . I bought 3,000 GME at $4, s...
23 Jul 2024 2 minute read 2 comments Cryptofab
Okay, I'll admit it. I used to be that guy – the die-hard ETH maxi who scoffed at anything that wasn't Ethereum. Bitcoin? Overrated dinosaur. Altcoins? Useless distractions. But as I dove deeper into the crypto rabbit hole, something unexpected happ...
18 Jul 2024 1 minute read 4 comments Cryptofab
Real World Assets (RWA) on the blockchain is the new buzzword, with projects like Mantra (OM) riding the wave. But what's the real deal?In a nutshell, RWA tokens represent real-world assets (think stocks, real estate, commodities) on the blockchain....
