The importance of decentralized oracles: Interview with Sergey Nazarov
Chainlink co-founder Sergey Nazarov explains why a decentralized oracle network is needed to ensure trust in the DeFi ecosystem. Chainlink co-founder Sergey Nazarov believes that increasing the decentralization and scalability of oracle technologies are key to ensure trust in the DeFi ecosystem. Oracles play a key role in the correct functioning of DeFI protocols by connecting them to real-world data. However, the trustworthiness of oracles becomes compromised in instances where they rely on a single data source to retrieve information. For instance, according to Nazarov, excessively....
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During the last few years, smart contracts and blockchain oracles have transformed the crypto industry, and one specific project called Chainlink is the most widely used oracle network to-date. Another interesting thing about Chainlink is the project’s creator, Sergey Nazarov has been a Satoshi Nakamoto suspect in recent times. Last year, a number of reports attempted to prove that Nazarov could be Bitcoin’s creator by leveraging circumstantial evidence and speculation. Chainlink Founder Sergey Nazarov Deemed a Satoshi Suspect Over the last few years, news.Bitcoin.com has....
In its new vision, Chainlink would allow anyone to deploy an arbitrary executable on its network. Chainlink (LINK) has unveiled its new whitepaper on Thursday, which details a planned expansion and pivot into creating oracle networks for computation. The proposal would see Chainlink generalize its oracle network into a “meta layer” of Decentralized Oracle Networks, or DONs.The new architecture supports a larger selection of use cases, expanding its suite of services to off-chain computation of data. In Chainlink’s vision, these computational oracles would create a class of “hybrid smart....
In a recent interview, Chainlink’s co-founder, Sergey Nazarov, said the collapse of the banking industry will drive crypto mass adoption. Chainlink’s Co-Founder Predicts Crypto And Blockchain Prospects Over The Next Decade Sergey Nazarov believes that the collapse of the banking industry will favor crypto adoption and growth in the next decade. Related Reading: Crypto Is On The Brink Of Explosion As 9-Year DXY Formation Returns Nazarov believes the crypto industry and its technological innovations might maintain the same slow growth pace. However, the industry player cited two....
Sergey Nazarov: there is a demand for Chainlink VRF from other chains like Matic. Chainlink’s verifiable randomness function, or VRF, has made its way to the Ethereum (ETH) main net. VRF will provide a decentralized source of randomness for the project's decentralized ecosystem. A trusted source of randomness is essential for many applications, such as those in the gambling and gaming industries. Chainlink’s co-founder Sergey Nazarov told Cointelegraph that many blockchains beyond Ethereum, such as the gaming-focused Matic Network, are interested in deploying the project’s VRF:“I know....
SmartContract CEO Sergey Nazarov lauching his company's products at DEMO In San Jose. Source: CoinDesk. One of the most notable features of blockchain-based technology is the ability to provide substantial public proof of information. Now a startup called SmartContract is harnessing this aspect of the technology to create contractual agreements that can be used by both experts and newcomers alike. SmartContract CEO Sergey Nazarov told CoinDesk: "We want to be the secure web layer that gives people access to infrastructure that they can use to create valuable trust." These trust-based....