• About
  • FAQ
  • Landing Page
  • Buy JNews
Newsletter
Crypto News
Advertisement
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3
  • Bitcoin
  • Ethereum
  • Regulation
  • Market
  • Blockchain
  • Business
  • Guide
  • Contact Us
No Result
View All Result
Crypto News
No Result
View All Result

World Economic Forum’s New Academic Paper Favors Chainlink

by
December 10, 2020
in Uncategorized
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

According to the World Economic Forum (WEF) blockchain-based smart contracts can help unlock the hidden value of legacy digital systems. To achieve this the legacy systems, need to become interoperable with the distributed ledger systems. According to the WEF academic paper, such a step would also need a Chainlink like infrastructure for decentralized data validation. This infrastructure will help validate the integrity of data inputs and will support tamperproof data exchange. Impressively, the WEF paper features Chainlink as a case study and this strengthens Chainlink’s stance in the space.

The paper “Bridging the Governance Gap: Interoperability for Blockchain and Legacy Systems” is co-authored by Sergey Nazarov, co-founder Chainlink, and Punit Shukla, the WEF blockchain project lead. It outlines an open-source framework that will act as a bridge between legacy digital systems and smart contracts. Additionally, the paper proposes standardization of crypto oracles and is using Chainlink as a case study.

We’re excited to share a new paper that we co-authored with @WEF, exploring the importance of decentralized oracles for connecting existing systems to blockchains and how #Chainlink provides a universal gateway for enterprises to easily adopt smart contracts.

— Chainlink – Official Channel (@chainlink) December 9, 2020

Chainlink for DeFi

The paper recommends that legacy systems that interoperate with DLTs must adopt a decentralized oracle network. Chainlink provides a major advantage here as it works across all major blockchains. Also, it provides high-quality oracles on which the enterprises can depend for reliable data. 2020 witnessed millions of dollars being hacked from DeFi protocols that rely on centralized price oracles. Thus, Chainlink like infrastructure is very important for systems interacting with DeFi protocols where billions of dollars flow in and out every day.

Related articles

Nimbus (NBU) – The Next Big Thing in DeFi is Coming to Uniswap

Nimbus (NBU) – The Next Big Thing in DeFi is Coming to Uniswap

February 24, 2021
Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

February 24, 2021

The paper also highlights a few services that the decentralized oracle network must provide. Interestingly, Chainlink is already providing some of those to the world’s leading enterprises for years now.

Furthermore, the paper also mentions MakerDAO as a case study, the protocol that uses oracles to fetch asset prices of supported collaterals.

PolkaDot, Cosmos for interoperability

Primarily, the WEF academic paper focuses on interoperability between non-blockchain systems and smart contracts. Thus, along with data validation, it is equally important to have interoperable blockchains in the ecosystem. To standardize the interoperability between blockchains, WEF is studying Polkadot and Cosmos.

LINK price

In the last 24 hours, the LINK price is down by 0.1%. At the time of press, the LINK token was trading a little over $12.16.

However, for more crypto updates do check out our Altcoin Buzz YouTube Channel.

 

The post World Economic Forum’s New Academic Paper Favors Chainlink appeared first on Altcoin Buzz.

Share76Tweet47

Related Posts

Nimbus (NBU) – The Next Big Thing in DeFi is Coming to Uniswap

Nimbus (NBU) – The Next Big Thing in DeFi is Coming to Uniswap

by
February 24, 2021
0

Nimbus is an established fintech company with an ambitious vision to open some of the most rewarding financial services to...

Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

by
February 24, 2021
0

The total value locked in decentralized finance platforms dropped 16% to $54.4 billion this week, but the quick rebound in...

Hathor Network, $HTR Live on KuCoin, Has Just Released Exciting News: The Detailed 2021 Roadmap

Hathor Network, $HTR Live on KuCoin, Has Just Released Exciting News: The Detailed 2021 Roadmap

by
February 24, 2021
0

PRESS RELEASE. Hathor Network ($HTR, live on KuCoin) has just released exciting news: The detailed 2021 Roadmap. Community projects are...

US Judge Dismisses Motion Against Bancor After Finding Allegations Inadequate to Give It Jurisdiction

US Judge Dismisses Motion Against Bancor After Finding Allegations Inadequate to Give It Jurisdiction

by
February 24, 2021
0

A Manhattan federal judge has dismissed a securities fraud class action against Bancor after ruling that the plaintiff’s allegations were...

Top Crypto News: 02/24

by
February 24, 2021
0

After undergoing a sharp correction, Bitcoin is making an upside movement and is trading close to $48,626. Square, the financial...

Load More
  • Trending
  • Comments
  • Latest
Grayscale CEO outlines 6 themes that will shape crypto market in 2021

Grayscale CEO outlines 6 themes that will shape crypto market in 2021

January 20, 2021
GrayScale Reopens ETHE Buying

GrayScale Reopens ETHE Buying

February 1, 2021
Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

Grayscale Investments Buys more ETH as Ethereum Price Shoots to New All-Time High of over $1550

February 3, 2021
Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

Grayscale’s Crypto Assets Under Management Soar Past $30 Billion — ‘Institutions Are Here’

February 6, 2021
Nimbus (NBU) – The Next Big Thing in DeFi is Coming to Uniswap

Nimbus (NBU) – The Next Big Thing in DeFi is Coming to Uniswap

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0
Nimbus (NBU) – The Next Big Thing in DeFi is Coming to Uniswap

Nimbus (NBU) – The Next Big Thing in DeFi is Coming to Uniswap

February 24, 2021
Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

February 24, 2021
Hathor Network, $HTR Live on KuCoin, Has Just Released Exciting News: The Detailed 2021 Roadmap

Hathor Network, $HTR Live on KuCoin, Has Just Released Exciting News: The Detailed 2021 Roadmap

February 24, 2021
US Judge Dismisses Motion Against Bancor After Finding Allegations Inadequate to Give It Jurisdiction

US Judge Dismisses Motion Against Bancor After Finding Allegations Inadequate to Give It Jurisdiction

February 24, 2021
Crypto News

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Categories tes

  • Aave (AAVE)
  • Abra
  • Altcoin News
  • altcoins
  • Altseason
  • Binance
  • Binance (BNB) News
  • Binance Coin (BNB)
  • Binance Ecosystem
  • Binance Smart Chain
  • bitcoin
  • Bitcoin
  • Bitcoin (BTC) Adoption
  • Bitcoin (BTC) General News
  • Bitcoin (BTC) News
  • Bitcoin (BTC) Predictions
  • Bitcoin Cash (BCH)
  • Bitcoin Cash (BCH) General News
  • Bitcoin dominance
  • Bitcoin Futures
  • Bitcoin Miners
  • bitcoin network
  • Bitcoin Options
  • Bitcoin price
  • Bitcoin SV (BSV)
  • Bitfinex
  • BitGo
  • Bitstamp
  • Bittrex
  • Blockchain
  • Blockchain News
  • bloomberg
  • Brad Garlinghouse
  • Business
  • Cameron Winklevoss
  • ChainLink
  • ChainLink (LINK)
  • Chainlink (LINK) News
  • Chainlink Community
  • Chainlink Price Prediction
  • Changpeng Zhao
  • charlie lee
  • CME Ethereum Futures
  • CME Group
  • coinbase
  • Coinmarketcap
  • Consensys
  • Craig Wright
  • Crypto Exchanges
  • cryptocurrency
  • Dash (DASH)
  • DeFi
  • DeFi Pulse
  • Deribit
  • Dogecoin (DOGE)
  • Electric Coin Company
  • Elon Musk
  • ETH 2.0
  • ETH2.0
  • Ethereum
  • Ethereum (ETH)
  • Ethereum (ETH) News
  • Ethereum 2.0
  • Ethereum Classic (ETC)
  • Ethereum Fees
  • Ethereum Futures
  • Ethereum Miners
  • Ethereum Network
  • ethereum price
  • Ethereum price analysis
  • Ethereum Staking
  • Ethereum Upgrade
  • Ethereum Upgrades
  • Flare Networks
  • Flare Networks Snapshot
  • Gemini
  • google
  • Grayscale
  • Grayscale Bitcoin Trust (GBTC)
  • Grayscale Ethereum Trust (ETHE)
  • Guide
  • Guides
  • Huobi
  • Institutional Investors
  • jack dorsey
  • Jay Z
  • justin sun
  • JustSwap
  • LINK Marines
  • Litecoin
  • Litecoin (LTC)
  • Litecoin (LTC) News
  • Litecoin Development
  • litecoin foundation
  • Litecoin MimbleWimble
  • Market
  • Michael Saylor
  • MicroStrategy
  • MimbleWimble
  • Mining
  • Monero (XMR)
  • News
  • NFT
  • NFTs
  • Non-Fungible Tokens
  • OKECoin
  • Other
  • Pantera Capital
  • Polkadot (DOT)
  • Polkadot Price Analysis
  • Poloniex
  • Prices
  • Regulation
  • ripple
  • Ripple
  • Scams and Hacks
  • sec
  • Securities and Exchange Commission
  • Spark Token (FLR)
  • Spark Token Airdrop
  • Spark Tokens (FLR)
  • Square
  • SushiSwap (SUSHI)
  • Tesla
  • Tether (USDT)
  • tether bitfinex lawsuit
  • Tron (TRX)
  • TRON (TRX) News
  • Tron Foundation
  • Twitter
  • Tyler Winklevoss
  • Uniswap
  • UniSwap (UNI)
  • Wallets and Exchanges
  • Weiss Ratings
  • Wrapped Bitcoin (WBTC)
  • XRP
  • XRP News
  • XRP Price Prediction
  • Yearn Finance (YFI)
  • Zcash (ZEC)
  • ZCash Halving
  • Zeus Capital
  • Zilliqa (ZIL)
  • Zilliqa (ZIL) News
  • Zilliqa Staking

Tags

Altcoin Bitcoin drops Bitcoin Wallet Cointelegraph Cryptocurrency ICO Investment Lending Market Stories Mining Bitcoin

Newsletter

[mc4wp_form]

  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© 2017 JNews - Crafted with love by Jegtheme.

No Result
View All Result
  • Contact Us
  • Homepages
  • Business
  • Guide

© 2018 JNews by Jegtheme.