Ashish

Chainlink CCIP serves as an abstraction layer that enables financial institutions to interact with blockchains using their existing systems. Seamless & secure access to all of Web3—without overhauling current backends. #LinkTheWorld swift.com/news-events/news/s…

Chainlink started out as a price oracle service to achieve product-market fit. Then, it grew into a collection of oracle services to meet user demand. Now, it’s evolving into a full-fledged Web3 services platform. The power of #Chainlink as a platform👇 PLATFORM VS. SERVICE What defines a true software platform? It provides an extensible foundation through which developers can build, deploy, and manage applications. The Chainlink Network launched in 2019 with the premium decentralized Price Feeds on Ethereum, which were pivotal in massively accelerating the DeFi movement. Then, the Chainlink Network extended to more blockchains and offered more services, including new types of data, compute, and connectivity solutions such as Data Feeds, Proof of Reserve, VRF, Automation, and Functions. Today, developers can leverage a wide array of diverse Chainlink services that combine to provide them with everything they need to build the next generation of trust-minimized apps—the sign of a true developer platform with greater configurability than ever before. Below are some of the key attributes that make up the Chainlink Web3 services platform: DEFENSE-IN-DEPTH The Chainlink Network is composed of high-quality, Sybil-resistant oracle nodes operated by leading DevOps, community, and enterprise organizations. Chainlink employs a defense-in-depth approach where multiple security methods are used in combination to increase oracle network robustness and reliability. As a result, Chainlink services have helped securely enable trillions of dollars of transaction value across hundreds of dApps and a wide variety of blockchains and layer-2 networks. The success of Web3 services such as Price Feeds, VRF, and Automation helped build the foundation upon which Chainlink can be viewed as not only a collection of services, but as an extensible platform. HORIZONTAL INTEGRATION Chainlink services work together seamlessly and can be combined without introducing additional trust assumptions compared to solution services. The power of a platform stems from its network effects—seamless horizontal integration between a multitude of services helps boost the utility of Chainlink as a platform. By contrast, solutions that require combining multiple piecemeal components from different disparate protocols can introduce complexity that can hinder the security and reliability of dApps. Layering together different disparate protocols for specific services can introduce additional trust assumptions, increase the attack surface of an application, and add risks from services provided by less proven protocols. ECONOMIC SUSTAINABILITY A true platform requires a path to long-term economic sustainability. With the launch of Chainlink Economics 2.0 and programs such as BUILD, SCALE, and Staking v0.1, the Chainlink Network has been set on a path toward economic sustainability, supporting the long-term growth of Web3. Economics 2.0 creates a virtuous cycle that increases value capture of the Chainlink Network, fueling the adoption of oracle services and the overall growth of the Web3 ecosystem. Network effects are key to achieving economic sustainability for oracle services, where the aggregation of fees can lead to greater security and utility for dApps. CONFLICT OF INTEREST FREE A key issue faced by financial systems is an inability to resolve conflicts of interest, which enables more powerful groups to take advantage of their privileged position and exploit less powerful groups. The crypto economy is built on the foundational principle of building a fair and transparent alternative that is free from conflicts of interest and enforces better behavior through cryptographic guarantees and incentive alignment. The Chainlink Network is built from the ground up to support this new, incentive-aligned financial system, which is fair for all participants, including Chainlink service providers, end users, developers using the Chainlink platform, and the wider Chainlink ecosystem and community. FUTURE-PROOF While various individual solutions may emerge and fade over time, the Chainlink Network distinguishes itself through its security-first approach, growing user base and network effect, and the establishment of a clear set path toward long-term economic sustainability. This combination of factors makes Chainlink a full-stack developer platform that will continue to grow and adapt with market trends, enabling developers to seamlessly integrate sophisticated new functionality while eliminating unnecessary risk. Integrate Chainlink services today: docs.chain.link/

"Web3 blockchain technology leapt forward with the introduction of oracles and their ability to bring off-chain data on-chain. GitHub, with over 4000 repositories touching Chainlink alone, shows just how popular oracles have become."—@IBM ibm.com/blog/web3-oracle-nod… IBM recognizes the key role that oracles play in the Web3 ecosystem by connecting blockchains to off-chain resources to help enable a wave of smart contract innovation from DeFi to parametric crop insurance and beyond. Given the importance of ensuring dApps have a secure and reliable source of external data, IBM also raises key considerations that oracle protocols must address: API maintenance, timely and secure data transfer, and oracle node management. Here's how #Chainlink tackles these challenges: API Maintenance Chainlink oracle nodes are highly configurable and can natively connect to any open or authenticated API. This capability is used across Chainlink services such as Data Feeds to fetch and aggregate data from leading data aggregation firms, abstracting API management from dApp developers. Timely and Secure Data Transfer Chainlink services are battle-hardened and time-tested, having delivered data reliably on-chain even during the most extreme network congestion and market volatility. Furthermore, Chainlink's upcoming low-latency oracles allow for the transfer of data on-chain to become significantly more efficient. Oracle Node Management In addition to the Chainlink documentation, resources such as the AWS Chainlink Quickstart further simplify the process of launching a Chainlink node. Chainlink Functions is taking this a step further by enabling data providers to make their data available to smart contracts without needing to manage oracle infrastructure. As the Web3 economy continues to expand, the role of secure oracle infrastructure will only increase in importance, with IBM noting, "The default option is Chainlink, which has significant adoption across layer 1 blockchains and protocols running within them."

#Chainlink Labs and @AWSstartups have partnered to provide #ChainlinkBUILD members with even more perks, such as: • Access to AWS account reps who specialize in helping startups • $5,000 in AWS credits upon joining the BUILD program • Opportunities to lean into additional AWS programs Interested in joining the Chainlink BUILD program? Apply now and join 25+ teams at the forefront of #Web3: chain.link/economics/build-p…

On @CNBC Crypto World, @SergeyNazarov talked about how PwC Germany's collaboration with @ChainlinkLabs can help scale up blockchain adoption for both enterprises and capital markets.

Introducing #Chainlink Functions—the serverless #Web3 platform for connecting any data, device, or system to smart contracts. Functions brings Web2 services like @awscloud, @Meta, and @googlecloud on-chain to empower devs to #LinkTheWorld to Web3. blog.chain.link/introducing-…