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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.
11 Dec 2024 1 minute read 8 comments Galaxie Crypto
Coinbase and chainlink have just concluded a strategic alliance for the deployment of the Coinbase diamond project. Coinbase, through its asset management branch, is launching the integration of traditional financial assets on blockchain with a new p...
11 Dec 2024 2 minute read 1 comment Myxoplixx
In what may be remembered as one of the most pivotal moments in financial history, two titans of the cryptocurrency world have joined forces to bridge the gap between traditional assets and the digital frontier. Coinbase and Chainlink's groundbreaki...
28 Nov 2024 1 minute read 6 comments Myxoplixx
The trade dispute between the U.S. and China from 2018-2020 had a surprise benefit, it pushed more companies to start using blockchain technology. Think of blockchain like a super-secure digital notebook that keeps track of things moving around the...
26 Nov 2024 1 minute read 0 comments Myxoplixx
The crypto market reveals a stark divide between traders and gamblers, a distinction that often means the difference between sustainable success and devastating failure. While both groups operate in the same arena, their approaches couldn't be more...
26 Nov 2024 1 minute read 0 comments Keith Thuerk
Chainlink helping Brazil with phase II CBDC Brazil is moving their CBDC forward with Chainlink, Microsoft, Banco Inter, and 7COMm are collaborating on Brazil's DREX CBDC pilot to enhance trade finance with blockchain technology. What is Brazil d...
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...
