Company
Date Published
Author
Chainlink
Word count
582
Language
English
Hacker News points
None

Summary

In 2021, Chainlink and Filecoin launched a joint grant initiative to foster the development of hybrid smart contracts by integrating Chainlink's decentralized oracles and Filecoin's decentralized storage. The initiative aims to extend Web3 capabilities beyond on-chain computation to include decentralized off-chain computation, data, and storage. Among the recipients, the DZK Foundation, which specializes in zero-knowledge proofs, is researching zk-Rollups to prove data storage on Filecoin using a Chainlink External Adapter. This integration can alleviate data availability challenges and reduce costs associated with storing data on Ethereum layer-1 chains by using Filecoin's network. The foundation's work may enable Ethereum layer-2 networks to leverage zk-SNARKs for verifying data status on Filecoin, potentially driving new business use cases and increasing demand for Filecoin storage. DZK Foundation's team, including Co-Founder Weikeng Chen and VP of Engineering Rami Akeela, brings extensive expertise in zero-knowledge proofs and intends to explore interoperability techniques to enhance the scalability and affordability of blockchain technologies. The grant underscores Chainlink's commitment to advancing hybrid smart contracts and secure oracle networks, promoting growth in the decentralized ecosystem.