Value Secured by Chainlink Data Soars 10-Fold in Less Than a Year
Chainlink, the biggest provider of data to smart contracts, said the value of investments 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
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Author: Tanzeel Akhtar
