Chainlink

Chainlink is actively working on solutions to manage the challenges of Oracle Extractable Value (OEV) in the blockchain and DeFi industry. The company has implemented various approaches, such as Fair Sequencing Services (FSS) and Protected Order-Flow (PROF), to mitigate the impact of OEV. Chainlink advises against connecting to unproven and untested third-party OEV designs due to concerns about decentralization, security, and transaction delays. The company emphasizes the importance of decentralized infrastructure and alignment of incentives to deliver reliable and secure data for dApps and users.

Micro3io has joined Chainlink BUILD to gain access to Chainlink's oracle services and support for cross-chain NFTs. They will make 3% of their token supply available to Chainlink service providers. Micro3io offers a decentralized NFT platform, SocialFi, a gaming platform, and more. As part of BUILD, they will receive benefits such as access to Chainlink CCIP and VRF, and early access to Chainlink product releases.

The Q4 2023 Product Update for Chainlink is now available with audio. Chainlink CPO Kelmoujahid, Head of Developer Relations TheOnlyAkersh, and Director of Community Rorypiant discuss what's next for the Chainlink Network.

The Chainlink community highlights eight games that gamers should keep an eye on in 2024. These games include Abyss World, Bless, Blue Kraken Online, Cyber Titans, DESPERADO B218, a Three Kingdoms simulation game, a multiplayer sailing game, and a waste-cleaning strategy game. Some of these games are already playable, while others are coming soon. Chainlink provides the necessary tools for developers to succeed in building these Web3 games.

Chainlink Functions mainnet beta release is now available on Arbitrum. This release allows Arbitrum developers to connect and compute upon offchain data, devices, and systems in a trust-minimized manner.

Chainlink Automation is now officially available on Base, the layer-2 network incubated by Coinbase. Base builders can now utilize Chainlink's reliable and performant automation solution to drive next-generation use cases.

Pax Gold tokens, powered by Chainlink Price Feeds, are a prime example of real-world assets (RWAs) moving onchain. Chainlink oracles will accelerate the adoption of Paxos' USD and gold-backed tokens in DeFi, according to Walter Hessert, head of strategy at Paxos. Tokenized RWAs, powered by Chainlink, are expected to become the largest driver of blockchain adoption.

The #RWA trend will expand to include new asset classes such as real estate. Real estate assets could be represented onchain as dNFTs, with payments, identity, and other offchain information verified using zero-knowledge proofs.

Chainlink highlights the importance for DeFi applications to understand the trust assumptions of their chosen infrastructure. Chainlink's heterogeneous, multi-network design reduces risk by using independent decentralized oracle networks (DONs) that run natively on specific blockchains. This design provides users with reliability guarantees and uptime performance, as well as access to multiple independent services without additional trust assumptions.

A recent industry report by Bain and Company in collaboration with JPMorgan highlights the potential revenue opportunities of tokenizing alternative assets. The report suggests that tokenization of assets such as private equity, private credit, real estate, and hedge funds could increase industry revenues by $400 billion annually. This includes $270 billion for fund managers, $100 billion for wealth managers, $30 billion for wholesale platforms, and $5 billion for fund administrators and transfer agents. Tokenization can expand investor base, generate more management fees, broaden distribution, and unlock scale and value across the investment lifecycle.