Apr 18, 2021
Chainlink has released a new whitepaper called Chainlink 2.0: Next Steps in the Evolution of Decentralized Oracle Networks. The new whitepaper outlines an ambitious vision for the future of smart contracts. We talk with Chainlink co-founder Sergey Nazarov who explains the implications for the next generation of blockchain ecosystems.
Chainlink’s new whitepaper outlines a long-term, multi-year vision for the future of oracle-enabled smart contracts. The paper states that “Decentralized Oracle Networks will create a decentralized meta-layer that enhances smart contracts with highly scalable, confidential, and secure forms of off-chain computation, in addition to the external data feeds that Chainlink powers today.”
The Chainlink 2.0 Whitepaper is over 100 pages long and represents a year of work by the Chainlink team. It was written by a team of academic researchers from computer science fields such as security, cryptography, distributed systems, game theory, and mathematics. The paper outlines a new architecture for building hybrid smart contracts where Decentralized Oracle Networks offer all of the capabilities that blockchains cannot, serving as an off-chain computation layer that is anchored to blockchains for security while operating with the feature-richness and scalability of off-chain systems. The new layer enables a product suite of Chainlink Decentralized Services that power a variety of secure, smart contract applications capable of supporting a wider set of use cases than is currently available today.
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