Chainlink achieves major scalability upgrade with launch of Off-Chain Reporting (OCR)

Chainlink achieves major scalability upgrade with launch of Off-Chain Reporting (OCR)
фото показано с : cryptoninjas.net

2021-2-25 22:40

CryptoNinjas » Chainlink achieves major scalability upgrade with launch of Off-Chain Reporting (OCR)

The team of Chainlink, a leading blockchain oracle platform, today announced that after over a year of development and numerous security audits, Chainlink Off-Chain Reporting (OCR) has officially launched on mainnet. This marks a major milestone in the scalability of Chainlink’s decentralized oracle networks.

OCR significantly improves the efficiency of how data is computed across Chainlink oracles, reducing operating costs by up to 90% and enabling the Chainlink Network to accelerate the development of universally connected smart contracts both in DeFi markets and across various other industries.

The most immediate benefit to DeFi and its users will be a 10x increase in the amount of real-world data that can be made available to smart contract applications.

This large increase in on-chain data will enable further innovation across DeFi, decentralized insurance, blockchain-based gaming, and numerous other sectors, as smart contract developers leverage newly available datasets for a wider range of financial products and markets.

“While the Chainlink Network has already been rapidly increasing the amount of data it provides on-chain through the continual rollout of Price Feeds, Proof of Reserve, verifiable randomness (VRF), and more, OCR’s scalability improvements will massively accelerate that trend. With OCR, smart contract developers will have greater access to external data across a more diverse set of assets, real-world events, and blockchains, allowing them to service new industries and unique use-cases.”
– The Chainlink Team

Chainlink OCR will further accelerate the number of smart contracts in the Chainlink ecosystem | SOURCE: chain.link Additional Benefits of OCR

OCR is the third and latest version of the Chainlink Core client run by Chainlink nodes. As such, all Chainlink nodes operating in-production will now be running OCR and FluxMonitor clients in parallel to generate both scalability and security through redundancy.

Multi-client diversity ensures automatic failover protection in the event of any potential black swan event, further enhancing the hyper-reliability of the Chainlink Network at all times.

In addition to supplying more data on-chain through the launch of new oracle networks, OCR brings a variety of other notable enhancements to the Chainlink Network:

Increased decentralization of oracle networks – to generate additional accuracy, availability, and ‘tamper-proofness’ for Chainlink users. Higher frequency on-chain oracle updates – to provide even more precise and up-to-date data to smart contract applications that may be more sensitive to small price movements. Cost-efficient onboarding of new nodes – to further decentralize participation in oracle services run on the Chainlink Network. Reduced on-chain network congestion – by lessening the load Chainlink oracle networks place on high-demand blockchain networks like Ethereum. Reduced oracle network latency – to ensure data is rapidly provided to smart contracts even during blockchain network congestion and extreme market volatility.

CryptoNinjas » Chainlink achieves major scalability upgrade with launch of Off-Chain Reporting (OCR)

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ChainLink (LINK) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $17.68
Капитализация $0 Rank 99999
Цена в час новости $ 27.24 (-100%)

chainlink off-chain reporting ocr major achieves scalability

Источник: cryptoninjas.net

chainlink off-chain → Результатов: 26


Synthetix Becomes The Latest DeFi Project To Fully Integrate Chainlink’s Decentralized Oracles

The DeFi protocol had previously integrated Chainlink oracles to connect off-chain data, relying on their internal oracles for on-chain data. However, Chainlink will now be fully used to remove any dependence on centralized parties as oracles providing data on the price of commodity crypto and forex synthetic assets (Synths) traded.

2020-9-3 23:18


Фото:

Государственная блокчейн-платформа Китая внедрит оракулы Chainlink

Инфраструктурная блокчейн-платформа (BSN) Государственного информационного центра КНР намерена использовать децентрализованные оракулы компании Chainlink. China’s national Blockchain Services Network (#BSN) is integrating Chainlink as the preferred oracle network to provide @BSNBase systems access to off-chain data.

2020-6-23 17:55


Tezos and Chainlink Team Up; Which Crypto Will Benefit the Most?

Chainlink is joining forces with Smart Chain Arena and Cryptonomic to provide the Tezos developer community with real-time data feeds via its decentralized oracle network. Now, anyone building smart contracts on top of the Tezos protocol will be able to access off-chain resources and use this data within their on-chain applications. “Providing Tezos developers with...

2020-5-1 19:01


Offchain Labs integrates Chainlink on Arbitrum’s secure off-chain smart contracts

Offchain Labs, a provider of off-chain smart contracts with on-chain security, has announced the release of new capabilities for the larger Ethereum community by enabling the combined use of Arbitrum and Chainlink, which will enable Arbitrum’s unique form of trust-minimized smart contract computation to be used both securely and easily in the computation of any data-enabled Solidity […] CryptoNinjas: Offchain Labs integrates Chainlink on Arbitrum’s secure off-chain smart contracts

2020-2-18 16:32


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

As Bitcoin dominance drops, Chainlink exploits the market shift - How?

LINK’s network activity increased along with its price.  Most metrics indicated a continued price rise, but a few suggested otherwise.  Chainlink [LINK] has gained much traction of late The post As Bitcoin dominance drops, Chainlink exploits the market shift - How? appeared first on AMBCrypto.

Bitcoin dominance falls: Time to stock up altcoins like LINK now?

Bitcoin dominance and a technical indicator suggested it might be time for swing traders to look at altcoins. Relative strength against BTC is an important factor alongside long-term support zoThe post Bitcoin dominance falls: Time to stock up altcoins like LINK now? appeared first on AMBCrypto.

Post-halving Bitcoin, Chainlink lead the chatter - What are you missing?

BTC has over 138 million social activities, while LINK has over 50 million. Consecutive price trends have contributed to the increased social activity. Recent data indicates that Bitcoin [BTThe post Post-halving Bitcoin, Chainlink lead the chatter - What are you missing? appeared first on AMBCrypto.

Bitcoin halving aftermath: LTC, LINK emerge as investor favorites

Crypto investment products saw outflows worth $206 million. LTC and LINK outperformed Bitcoin because of the halving and interest rate speculation. A total of $206 million flowed out of crypThe post Bitcoin halving aftermath: LTC, LINK emerge as investor favorites appeared first on AMBCrypto.

Can LINK rally to a new ATH on the back of Bitcoin's halving?

Bullish sentiment around Chainlink rose on the back of Bitcoin's halving  Buying pressure was high, hinting at a sustained price hike  Chainlink [LINK] recorded a solid comeback over the lThe post Can LINK rally to a new ATH on the back of Bitcoin's halving? appeared first on AMBCrypto.

Chainlink-Ethereum integration - Brace yourself for bad weather?

LINK gained traction after the project disclosed the update with ETH cross-chain transfers.  The price of the token might drop below $14 in the short term. The number of new Chainlink [LINKThe post Chainlink-Ethereum integration - Brace yourself for bad weather? appeared first on AMBCrypto.