Privacy 🔒
Scalability 🌐
These are the three main roadblocks preventing #SmartContracts from reaching mass adoption today
#Chainlink $LINK will play a major role in bringing this space to the next level, making Web3.0 a reality
A thread ⏬
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Smart Contracts cannot natively access data outside the blockchain, they need an off-chain Oracle to fetch the data and bring it back on-chain
More details about the connectivity problem below ⏬
Hyperledger Fabric by @IBM
Hyperledger Sawtooth by @intel
Quorum by @JPMorgan
Corda by @inside_r3
If you have read about large institutions leveraging "the blockchain" it was probably one of these
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Late last year, @Chainlink acquired @initc3org's Town Crier, a blockchain oracle that leveraged Intel SGX for confidentiality & integrity guarantees for data processed
This is live today
town-crier.org
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Having the oracle run inside of a TEE means that even the node operator won't know what data is being processed, this privacy extends to the cloud providers on which the nodes operate
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Simply put, Town Crier protects data in transit
blog.chain.link/town-crier-and…
This is where deco.works, which was also built by @initc3org, comes into play
Deco is a privacy preserving oracle protocol that enables users to prove facts about their web data (TLS) sessions to Oracles
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What about more computationally expensive operations? (machine learning, video/image rendering, batch transaction processing)
This can include
@Hyperledger Avalon workers
@maticnetwork plasma chains
@CelerNetwork state channels
@GCPcloud functions
Any network, service, or cloud provider
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The end result will be beautiful, all I can is, I'm very excited for 2020
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Chainlink nodes aggregate their responses off-chain and make only a single transaction back on-chain, gas use will be extremely minimal