Blockchain
By Maheen Hernandez
1 / 14
ChainLink (LINK) Oracles
2 / 14
ChainLink (LINK) Sergey Nazarov on what is Defi?
3 / 14
ChainLink are providing DApps with quick and secure connections to a wide range of off-chain data and systems from weather indexes to Tesla APIs to Esports results.
4 / 14
Sergey Nazarov in his recent interview on Pomp Podcast recollected on how he has been building smart contracts now for over 7 years.
5 / 14
He stated that he has written his own contracts, which have got adoption. He further stated that it was then, he came across the oracle problem, and the problem of how the…
6 / 14
In this regard, Sydney Ifergan, the crypto expert tweeted: “ChainLink (LINK) are literally connecting the entire world by facilitating reliable off-chain data.”
7 / 14
He pointed to how connections to external systems are quite important because smart contracts are being separate from the world of other insecure systems.
8 / 14
Sergey Nazarov, stated that he basically have been focusing his time and energy on the body of work around oracles. And, that oracles are the technology that solve these problems.
9 / 14
He pointed to how they allow you to retain the security of a smart contract, and its extreme reliability, while connecting it to less secure systems like data feeds and various…
10 / 14
So, basically, the contract can just get data about market events and for any number of other data points and that enables new types of contracts to come in to existence.
11 / 14
When Sergey Nazarov was asked on what is Defi and what is driving the growth of the DeFi industry right now?
12 / 14
Decentralized finance are a redefinition of what blockchains and smart contracts are doing to include financial products.
13 / 14
And, what decentralized finance is the creation of financial products usually around the crypto asset format in tokens like Bitcoin or other tokens and it generates an ecosystem…
14 / 14
The evolution now is about block chains and smart contracts being used to make financial products, which provide value regardless of the token, collateral or the asset.
The Currency Analytics
Want the full story?