Chainlink is now ready with the latest features through the publication of the whitepaper ‘Chainlink 2.0: Next Step in the Evolution of Decentralized Oracle Networks’ on April 15, 2021.
Be aware, Chainlink is emerging as the industry standard data source for the DeFi market, linking the blockchain with external sources including price data.
It is rumored that Decentralized Oracle Networks (DONs) which form the basis of the plan support unlimited oracle functions selected for use by the committee.
For information, DON is a network managed by the Chainlink nodes committee.
Here is the focus of Chainlink:
Introducing Hybrid smart contracts
Reduce complexity
Scaling
Confidentiality
The suitability of the order to the transaction
Trust minimization
Incentive -based securities
Smart contracts are nothing new given that they have been used by stablecoin provider, Paxos which uses Chainlink to get price data and proof of reserves.
With Chainlink 2.0, there will be more services available for DeFi projects, allowing users to develop more advanced smart contracts and at the same time paving the way for the growth of the decentralized financial industry.
Even a MetaLayer built with a collection of DONs will enable many off-chain sources, including high-frequency updates for price feeds and securities for NFTs.
Its native token, LINK though is now sidelined from the list of top 10 cryptocurrencies, at the time of writing it traded at $ 40.44 with a jump of almost 16% in 24 hours. Last week, the token managed to hit a record all -time high (ATH) with a value of $ 44.40.
