Decentralized Oracle chainlink

1.

Link

< H2 > 1. Introction

link is the erc20 standardized token based on Ethereum blockchain, which is used to pay the chainlink node operators, so as to retrieve data from the data of the chain off, format the data into the readable format of the blockchain, calculate the chain off and ensure the normal running time. Chainlink token, as a part of the running node, can prevent undesirable participants

< H2 > 2. Project introction

the first distributed Oracle network, which allows anyone to safely provide smart contracts, access key external data, offline payment and any other API functions. Any user with a data feed, offline service (such as local payment) or any other API can directly provide it to a smart contract in exchange for a link token. Chainlink network is a distributed network of chainlink nodes, which directly transport specific data, API and various offline payment functions to smart contracts. Chainlink network is composed of two independent parts, on chain and off chain, which must interact to provide services. The network is built in such a way that it can be upgraded, so that it can replace its different components when better technologies and technologies emerge. The chain components of the network filter Oracle through service level agreement (SLA) based on the measurement of one party's request of smart contract. Using these metrics, chainlink collects responses to SLA queries, sorts them using reputation and aggregation models, and provides final set results of chainlink queries that may be implemented in smart contracts. The out of chain components of the network are composed of Oracle nodes connected to the Ethereum network, which independently collect responses to offline requests. These off link nodes can be located in any instry. For example, the off link nodes operated by the New York stock exchange can provide real-time and accurate transaction information for the chainlink network, or the off link nodes of the visa network can solve transactions and interact with consumers and suppliers through the chainlink network. Chainlink technology aims to integrate nodes from all these instries into a common network, which itself acts as a (low-cost) middleman, interpreting and allocating data correctly as needed. The chainlink system will ensure that the results obtained from the Oracle are accurate and allow the oracle to remain independent of the data they provide. Any data, payment, e-signature or other API providers and personal developers can easily join the chainlink network by connecting their familiar API to the network. Once the API is connected to the chainlink, the user becomes the chainlink node operator and is responsible for connecting the API to the chainlink network. In order to motivate operators to provide API information, they are compensated in the link token to successfully complete the online link request. The project currently provides a fully distributed Oracle network compatible with bitcoin, Ethereum and hyperledger. It is expected that other blockchains will be supported in the future, which will allow cross chain connections between smart contracts and any other public or private chains, and allow anyone in the world to use the chainlink network, regardless of its platform. All service providers will be able to securely provide smart contracts to access critical external data and possibly even non chained payments

< H2 > 3. Comment

chainlink (link) is a decentralized network, which can provide information (Oracle) for smart contracts. Chainlink was established by Sergey Nazarov and Steve Ellis in 2017, aiming to solve the problem of information procurement under the chain through smart contract for its execution parameters. Smart contract is designed to execute automatically when some parameters are satisfied. However, when these parameters exist under the chain, it depends on the information source (called Oracle) to provide the necessary information. Off chain predictors are often centralized and rely on third parties to provide critical information in a reliable and time-consuming manner. Chainlink aims to break this dependence by providing information to smart contracts through a decentralized prediction network. These predictions work together on the link blockchain to verify and forward key information to these contracts. Chainlink network allows users with data feeds or information hosting APIs to easily provide information to smart contracts in exchange for link tokens< memorabilia September 2017 - chainlink ICO. November 2018 - acquisition of town crier (smart contract and data privacy project). June 13, 2019 - announced cooperation with Google utility link network to provide timely and accurate information to smart contracts through Oracle's distributed network (data sources and APIs). This information is very important for the effective and accurate execution of smart contracts, because the required information exists under the chain, and there must be a reliable way to obtain the information on the chain. The link token is used as payment for smart contracts that use the data provided by the link network, in which the oracle that provides accurate information will be rewarded in proportion to the link< important functions partnership with major instry players such as swift and Google, integration of Ethereum side chain, such as harmony, celer and matic. Average block time n / A; The total supply is 1 billion link; Write Oracle consensus to Ethereum blockchain through threshold signature

related links: https://chain.link/

https://en.bitcoinwiki.org/wiki/ChainLink

https://everipedia.org/wiki/lang_ en/chainlink-cryptocurrency

https://blog.chain.link/threshold-signatures-in-chainlink/

https://blockonomi.com/chainlink-guide/

 

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