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Chainlink is a decentralized oracle network that provides external data feeds, APIs, payments, and computation capabilities to smart contracts across any blockchain. By connecting blockchains to the outside world, Chainlink enables end-to-end decentralized applications that can integrate with real-world data and systems.
This in-depth guide will explore Chainlink’s origins, architecture, ecosystem adoption, tokenomics, challenges, roadmap and conclude with key takeaways on its vision for universally connected smart contracts. Let’s dive in!
Chainlink was founded in 2017 by Sergey Nazarov and Steve Ellis to solve the “oracle problem” faced in developing smart contract applications:
2014 — Sergey Nazarov first begins exploring better external connectivity methods for smart contracts during early blockchain prototyping.
2017 — Chainlink whitepaper published outlining a decentralized oracle network model after extensive research on secure off-chain computation.
2019 — Mainnet launch enables live usage of Chainlink price data oracles, verifiable randomness and other capabilities.
2020 — Chainlink Price Feeds go live on Ethereum mainnet following battle testing on various testnets across blockchains.
2021 and beyond — Rapid enterprise adoption seen as Chainlink gets leveraged across insurance, financial services and more industries requiring tamper-proof data.
Chainlink’s origins spanning academia and enterprise integration focus catalyzed traction across production blockchain applications. Next let’s examine Chainlink’s guiding philosophy.
Certain key philosophies define Chainlink’s purpose and steer its real-world connectivity focus:
Seamless Blockchain Interconnectivity
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