Raise of chain market (link): Unlock decentralized funding
In the world of cryptocurrency, little assets have gained as much traction and recognition as Chainlink (Link). Link, founded by a team of experienced developers of blockchain, entrepreneurs and researchers, a revolution in a decentralized financial (Defi) space. This article is immersed in the story behind the increase in Chainlink to the importance in Defi, its key features, and what makes it an essential part of this rapidly developing ecosystem.
Birth of Decentralized Finance
Decentralized finance or Defi is a growing trend that allows users to borrow and borrow cryptocurrencies without relying on traditional financial intermediaries. The Defi Protocol allows the creation of decentralized loan markets, stable and other financial instruments that operate exclusively outside the central banks and government regulation.
Chainlink: Bridge between blockchains and external data
To enable smooth interactions between blockchain networks and external data providers, Chainlink has developed a platform called Link. This protocol acts as an intermediary between different intelligent contracts on different blockchain, which makes it easier to exchange data and allows users to access information about the real world in a safe and decentralized way.
Key features of the chain line (link)
Chainlink’s success has contributed several functions:
- Interoperability
: Link allows smooth interactions between different blockchain networks, allowing users to access data from multiple sources.
- Real world data : Chainlink provides access to real world data such as market prices, weather forecasts and messages that can be used in Defi applications.
- Security : The platform uses a combination of cryptographic techniques, including storage outside the chain and transactions on the chain to ensure the integrity and safety of the data it will replace.
- Scalability : Link is designed to handle the high volumes of data and transactions, so it is suitable for cases of use that require fast and efficient processing.
The rise of the link
In 2017, a group of developers led by Jon Goncharov and others were cited as an independent chainlink project. The initial focus was on the development of a decentralized Oracle network that would provide data in the real world to intelligent contracts. This concept resonated with increasing interest in Defi and Link quickly gained traction.
Key milestones
1.
- Beta’s issue : Beta’s release, announced in February 2020, meant a significant milestone for this project because it allowed users access to the real world data from reputable external sources.
- Launch Mainnet : Link officially launched its main network in April 2019 and provided users with an official platform for interaction with Defi ecosystem.
Impact on decentralized finance
Chainlink’s success had a profound impact on the Defi space:
1.
- Improved user experience : Link integration with external data sources has enabled more efficient and more user -friendly interactions in Defi ecosystem.
- Competitive advantage : Focusing the chain on safety and scalability created it as a leader in the Defi space.
Conclusion
The rise of the chain three times (link) in decentralized finance is evidence of the power of innovation and cooperation. By providing access to data, safety and scalability in the real world, Link has become an essential part of the Defi ecosystem.
