Chainlink

Chainlink, a leading decentralized oracle network, has announced a new initiative to expand its global reach by recruiting regional advocates. The program aims to establish a network of local communities worldwide, fostering grassroots engagement and driving the adoption of Web3 applications built on Chainlink's infrastructure. Interested individuals are invited to apply to become advocates in their respective regions.

At the Consensus 2024 event, representatives from AWS Cloud, Bloccelerate, Chainlink Labs, and Fetch.ai explored how composability empowers blockchain developers with new capabilities. The discussion highlighted the potential of combining different blockchain components and services to create more advanced decentralized applications (dApps). Attendees were encouraged to visit the Chainlink Dev Hub to explore pioneering on-chain development using Chainlink's technology.

Chainlink reported 12 new integrations of its services across 9 different blockchain networks, including Arbitrum, Base, Ethereum, Linea, Metis, Optimism, Polygon, Scroll, and zkSync. The new integrations involve projects like DistribGallery, EnoToken, FlashLiquidity, GetRainCoin, MindNetwork, Phoenix Chain, SeamlessFi, Xstar, and YieldFlow. Chainlink continues to expand its ecosystem of decentralized applications leveraging its oracle services.

Chainlink's Cross-Chain Interoperability Protocol (CCIP) offers a secure and efficient solution for cross-chain token transfers. Unlike in-house solutions, CCIP provides rate limits, a Risk Management Network, and defense-in-depth security powered by Chainlink's decentralized oracle networks. This not only enhances security for protocols and users but also saves significant development time and maintenance costs. With over $10.5 trillion in on-chain transaction value enabled by Chainlink, CCIP emerges as a reliable choice for cross-chain token transfers, prioritizing security and development speed.

The Depository Trust & Clearing Corporation (DTCC), in collaboration with Chainlink and 10 market participants, has launched a new Smart NAV pilot. This pilot demonstrates how Chainlink's Cross-Chain Interoperability Protocol (CCIP) can serve as an abstraction layer, enabling the DTCC to integrate with potentially infinite blockchains seamlessly. The initiative highlights Chainlink's ability to facilitate secure and efficient data exchange between traditional financial systems and decentralized networks.

Tau Protocol, a decentralized exchange focused on perpetuals trading, has joined the Chainlink BUILD program. This partnership will provide Tau Protocol with enhanced access to Chainlink's oracle services and technical support, ensuring the security and reliability of its trading platform. In return, Tau Protocol will allocate 6% of its total native token supply to Chainlink service providers, including stakers. Leveraging the scalability of Optimism and the security of Chainlink, Tau Protocol aims to offer users a secure and low-fee on-chain trading environment for executing trading strategies at scale and speed.

Sergey Nazarov, speaking at the Ethereum Dubai Conference alongside Shey Nik, expressed his belief that the hundreds of trillions of dollars currently held in traditional markets will eventually be reformatted into the blockchain format. This statement suggests a potential massive shift in the way value is stored and transferred, with blockchain technology potentially disrupting traditional financial systems.

Sergey Nazarov, co-founder of Chainlink, recently met with financial leaders in major cities around the world, including Hong Kong, London, Singapore, and Sydney. During these meetings, Nazarov emphasized the importance of data, connectivity, and compliance for transactions in the financial sector. He highlighted that transactions require access to reliable data sources, secure connectivity solutions, and adherence to regulatory compliance standards.

Decentralized finance (DeFi) has experienced significant growth, catering to a specific subset of users. However, Chainlink recognizes the potential for further expansion by bringing the next set of capital markets users onto the blockchain. The company aims to leverage its technology to connect traditional data and systems to blockchains, enabling the development of advanced decentralized applications (dApps) that could drive broader adoption of Web3.

Sergey Nazarov, co-founder of Chainlink, delivered a talk at the TOKEN2049 event in Dubai, where he highlighted the transformative potential of tokenizing real-world assets. He emphasized that the industry is driving a significant shift in how value is secured and managed. Additionally, Nazarov participated in a panel discussion with representatives from Ondo Finance, pv01 Markets, and Rockaway Blockchain Fund, exploring the massive opportunity presented by tokenizing hundreds of trillions of dollars worth of real-world assets.