Chainlink is the market-leading oracle network, helping secure hundreds of billions in DeFi and providing off-chain data and compute to thousands of dApps. - by OracleSummit oraclesummit chainlinkblockchainoracle
on GameStop stock. Aside from these adverse situations, bank accounts, mortgages, insurance policies, and other important facets of the real world are still based solely on paper guarantees.
However, we are already seeing improvements with some of the trust-minimized applications that the CeFi world is building. Chainlink provides cryptographic guarantees that are deterministic and definite.While DeFi is the most widely-known use case of smart contracts and oracles, Brent believes that the full implications and possibilities brought about by smart contracts are still not fully understood.
These markets include enterprise systems, asset management, tokenized carbon credits, payment rails , Central Bank Digital Currencies like China’s digital Yuan, global insurance, commodities, real estate, capital markets, and more. According to Brent, it is only a matter of time before corporations start exploring the possibilities brought about by smart contract technology. Whatever application of smart contracts they end up using, Chainlink can provide data and computation to their smart contracts.Oracles are a vital piece of blockchain infrastructure that will enable a feature-rich smart contract economy. High-quality data is needed for the growth of the smart contract economy.
is being built to provide a framework for developers to build solutions that enable cross-chain token transfers, messaging, and other sophisticated actions across different blockchains and web2 systems.One exciting case study that Chainlink helps enable is through a collaboration with Greenworld, a non-governmental organization . NGOs are nonprofit groups independent of governments, organized primarily by private citizens. Greenworld has a product called A.I.R.
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