Company
Date Published
Author
Sergey Nazarov
Word count
1936
Language
English
Hacker News points
None

Summary

Chainlink is addressing the smart contract connectivity problem, which limits smart contracts from interacting with external data feeds and resources, by providing a secure, decentralized "blockchain middleware" that facilitates these interactions while maintaining the tamper-proof nature of smart contracts. This solution enables developers to create more complex and useful smart contracts by simplifying access to off-chain resources like data feeds and payment systems. Chainlink's development focuses on an improved reference implementation in Go, leveraging its security and scalability, and building a network of node operators to ensure a decentralized oracle network. The platform actively collaborates with smart contract developers, fintechs, and other startups to enhance their applications by integrating external data and services, thereby advancing the evolution of smart contracts. Chainlink's approach offers substantial opportunities for API service providers to become integral building blocks for widely used smart contracts, potentially leading to increased adoption and usage across the blockchain ecosystem.