About Chainlink: Difference between revisions
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Since Chainlink’s launch, the role of blockchain oracles has fundamentally evolved. Seen by many as the invisible backbone of DeFi, Chainlink has expanded far beyond a price oracle mechanism to now power a wide range of trust-minimized services that are fueling smart contract innovation and adoption. | Since Chainlink’s launch, the role of blockchain oracles has fundamentally evolved. Seen by many as the invisible backbone of DeFi, Chainlink has expanded far beyond a price oracle mechanism to now power a wide range of trust-minimized services that are fueling smart contract innovation and adoption. | ||
<ref>https://blog.chain.link/three-years-on-mainnet/</ref> | <ref>https://blog.chain.link/three-years-on-mainnet/</ref> | ||
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It is useful to think of Chainlink as a network of oracle networks, with each service that they provide having the ability to operate independently of the other services, and is not dependent upon them for aggregation, consensus, or execution. | |||
Revision as of 08:45, 16 June 2022
The Chainlink Network is a protocol that supports the creation of decentralized oracle networks that enable data feeds, off-chain computation, and cross-chain messaging on and between blockchain networks. The oracle nodes are run by Chainlink Node Operators (NOPs)—independent entities responsible for deploying onto new blockchain networks, sourcing high-quality data, and providing highly secure off-chain services to consumers with high uptime and reliability. [1]
History
When Chainlink launched on May 30, 2019, the protocol supported a single ETH/USD Price Feed secured by three oracle nodes. Since Chainlink’s launch, the role of blockchain oracles has fundamentally evolved. Seen by many as the invisible backbone of DeFi, Chainlink has expanded far beyond a price oracle mechanism to now power a wide range of trust-minimized services that are fueling smart contract innovation and adoption. [2]
It is useful to think of Chainlink as a network of oracle networks, with each service that they provide having the ability to operate independently of the other services, and is not dependent upon them for aggregation, consensus, or execution.