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Value Secured by Chainlink Data Soars 10-Fold in Less Than a Year
The value of smart contracts dependent on data from Chainlink’s oracle networks has climbed to $75 billion.
Chainlink, the biggest provider of data to smart contracts, said the value of smart contracts dependent on its feeds has climbed to $75 billion.
- The total value secured (TVS) has soared from $7 billion at the end of last year.
- Chainlink’s oracles feed data such as weather and sports results from external sources to blockchains such as Ethereum, Binance Smart Chain and Avalanche. The data allows decentralized finance (DeFi) applications to trigger their smart contracts when conditions are met.
- “Without trusted price data to trigger smart contracts, it is impossible to build DeFi applications, and we do not think it is a coincidence that the rate at which Chainlink has been able to bring new market data onto blockchains has been the rate at which developers have been able to build exciting new DeFi apps,” said Sergey Nazarov, co-founder of Chainlink.
- In August, Swisscom, Switzerland’s largest telecommunications provider announced it is launching a Chainlink oracle node to provide data for DeFi.
Read more: Chainlink Unveils Crypto ‘Keepers’ and Anti-Fraud Blockchain Bridges
STORY CONTINUES BELOW
UPDATE (Nov. 4, 16:21 UTC): Changes “value of investments” to “value of smart contracts” in first paragraph.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
