Chainlink Hybrid Smart Contracts
Chainlink 2.0 will bring in “hybrid smart contracts” to power up their DeFi and NFT tools.
It’s Boom Time
Well, it’s a booming subset of the cryto market, and Chainlink are getting on the horse with new features to help power up the hot DeFi and NFT sectors.
Chainlink is enabling users to build out smart contracts.
Link is an oracle-based crypto token that is going from strength top strength: read our full Chainlink Deep Dive. They have released a whitepaper detailing plans to build out the next phase of decentralized oracle networks, tools that help ecosystems like Ethereum and Polkadot to pull in external, real life data to make decisions (like the weather, or stock prices for example).
Chainlink is the “Go-To” data provder for the fast growing DeFi (Decentralised Finance) industry, linking blockchains to external data.
The Chainlink CEO, Sergey Nazarov, reckons that DeFi could hit $500 billion this year.
Mixing it Up
Chainlink 2.0 will help with “hybrid smart contracts”, simplify the build process, and help with scaling and security.
Hybrid smart contracts are a combo is blockchain smart contracts and real world (off-chain) data. Just the kind of thing that Chainlink specialises in, in other words.
Nazarov’s idea is to enable developers to build smarter contracts, fueling growth in the DeFi industry.
These more advanced Oracle networks have been nicknames DONs which will mesh together to form a MetaLayer: a smorgasbord of off-chain data feeds.