Apr 21, 2021 12:26 GMTCrypto News
Chainlink released a new whitepaper, Chainlink 2.0, dubbed as the ‘next steps in the evolution of decentralized finance.’
The whitepaper details its ambitious vision for Chainlink 2.0 and introduces a new architecture for building hybrid smart contracts.
LINK price establishes swing points and begins to range higher, aiming to retest current all-time highs.
Chainlink recently announced its plans for Chainlink 2.0 via a whitepaper that elaborates on the team’s plans on what the future holds for the most widely used oracle in the cryptocurrency ecosystem. On the other hand, the LINK price seems to be gearing up for a move higher.
Chainlink the Whitepaper for its second iteration. Chainlink 2.0 has been created to allegedly take the “next steps in the evolution of decentralized oracle networks”.
With one of the most used applications in DeFi, these protocols need oracles to feed them with off-chain information. In the new iteration, Chainlink could go beyond, as the document claims:
We foresee an increasingly expansive role for oracle networks, one in which they complement and enhance existing and new blockchains by providing fast, reliable, and confidentiality-preserving universal connectivity and off-chain computation for smart contracts.
Chainlink 2.0 will be based on a concept called Decentralized Oracle Networks (DON). Maintained by “a committee of Chainlink nodes”, the platform will be able to support an “unlimited” number of functions.
Decentralized Oracle Network Chainlink Devs Release Chainlink 2.0 Whitepaper Highlighting Anticipated Blockchain Industry Developments
The team at
Chainlink 2.0: Next Steps in the Evolution of Decentralized Oracle Networks.
Released on April 15, 2021, the paper notes that the team has a vision for the “evolution” of Chainlink beyond its initial conception (as explained in the original Chainlink whitepaper).
The paper’s authors stated:
“We foresee an increasingly expansive role for oracle networks, one in which they complement and enhance existing and new blockchains by providing fast, reliable, and confidentiality-preserving universal connectivity and off-chain computation for smart contracts.”
They added that the foundation of their plan is what they refer to as
Chainlink Releases New Whitepaper Introducing Hybrid Smart Contracts for DeFi and NFTs coinspeaker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coinspeaker.com Daily Mail and Mail on Sunday newspapers.