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Basics

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Revision as of 04:10, 4 April 2022 by Reggie (talk | contribs)

Chainlink - The basics

A brief description of......goes here.

The oracle problem?

What is the oracle problem? The oracle problem is the challenge of connecting smart contracts to off-chain resources due to the inherent security properties of the blockchain. This oracle problem exists for every blockchain network and smart contract platform.[1] For more details on the oracle problem click HERE.


Smart Contracts

What are smart contracts? Smart contracts are tamper-proof programs on blockchains that facilitate automatic transactions by using conditional software logic such as, “if x is true, then execute y.”[2] For an in depth look at smart contracts click HERE.


Oracles, nodes & DONs

What are oracles, nodes & DONs? For an in depth look at Oracles, nodes & DONs click HERE.


The Link token

For an in depth look at the Chainlink token click HERE.


Staking

What is staking within the Chainlink ecosystem? Smart contracts are tamper-proof programs on blockchains that facilitate automatic transactions by using conditional software logic such as, “if x is true, then execute y.”[3] For an in depth look at Chainlink staking click HERE.


Blockchain agnostic

https://blog.chain.link/chainlinks-blockchain-agnostic-design/

Chainlink specific contracts

  • Market & data feed speific contracts. We've broken the history out into contract-based milestones.
    • Direct Request / Runlog (DR)
    • Flux Monitor (FM)
    • Offchain Reporting (OCR)
    • (what could be next)
  • Keeper contracts.
  • VRF contracts.