Supported by Chainlink Community Grants, we have built a team that works with Chainlink infrastructure in order to bring oracle infrastructure to wherever it may be needed in the Web3 ecosystem. We have promoted Chainlink node deployment, as well as tested integrations on EVM and non-EVM blockchains, and we have developed Chainlink External Adapters that connect smart contracts to premium web APIs. We have established different mechanisms and workflows to validate the new chains, identified the right approaches to achieve the integrations, and produced accompanying documentation for the ecosystem community.
Chainlink promotes:
What we have worked on thanks to support from Chainlink Community Grants:
of Total Value Secured in Q1/2022
of total oracle networks in Q1/2022
of on-chain data points in Q1/2022
of total integrations in Q1/2022
Chainlink solves “the oracle problem,” which revolves around an innate limitation of blockchains: they cannot pull in data from or push data out to any external system as built-in functionality. As such, blockchains are isolated networks, akin to a computer with no Internet connection. However, for smart contracts to realize upwards of 90% of their potential use cases, they must connect to the outside world.
The solution to the blockchain oracle problem is the Chainlink Decentralized Oracle Network. It’s a secure piece of middleware that facilitates communication between blockchains and any off-chain system, including data providers, web APIs, enterprise backends, cloud providers, IoT devices, e-signatures, payment systems, other blockchains, and more.
Chainlink decentralized oracle networks provide tamper-proof inputs, outputs, and computations to support advanced smart contracts on any blockchain. Chainlink is a technology platform that enables both Web3 and non-blockchain enterprises to securely connect with blockchain platforms. Chainlink middleware connects blockchain-based smart contracts with external data, such as fiat currency prices.
We leverage the most suitable technologies for each solution to help our customers achieve their business goals more swiftly.
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