Company
Date Published
Author
Chainlink
Word count
1943
Language
English
Hacker News points
None

Summary

Chainlink Automation 2.0 introduces a major advancement in smart contract automation with its verifiable compute layer, enabling secure, reliable, and cost-effective offchain computation for Web3 applications. By utilizing Off-Chain Reporting (OCR) 3.0 for consensus, this update allows developers to offload complex computations from onchain to offchain networks, achieving significant savings on gas costs while maintaining high security and transparency standards. This innovation transforms how smart contracts are automated, providing robustness and scalability across various blockchain networks, including Ethereum, BNB Chain, and Polygon. Automation 2.0 is particularly beneficial for decentralized finance (DeFi) projects, as it facilitates efficient operations such as vault calculations, limit orders, and liquidity management by reducing the computational burden and enhancing the performance of decentralized applications (dApps). As a result, developers can focus on creating more sophisticated tools and services without the overhead of managing extensive infrastructure, paving the way for new use cases and improved user experiences in the blockchain ecosystem.