1/ While I believe #Ethereum is and will continue to be the dominant settlement layer for smart contracts, ultimately there is a way to bet on all of them

Every single blockchain in existence needs a decentralized oracle network to achieve its true value proposition
2/ Communication protocols have a natural network effect where the protocol with the most connections is the only solution used at scale (HTTPS)

#Chainlink is the universal communication standard for any and all blockchains to connect to any and all off-chain data resources
3/ Chainlink is not only a data delivery network but provides everything blockchains natively cannot

Price Feeds
Proof of Reserve
Verifiable randomness
Cross-chain interactions
Insurable events and IoT
Keeper transaction automation
Trust-minimized off-chain computation
Much more
4/ Chainlink oracles support all the leading L1/L2 chains including Ethereum, BSC, Matic, xDai, Cosmos, Polkadot, BSN, Tezos, Near, Solana, Avalanche, Fantom, Arbitrum, Optimism, and beyond

Regardless of what chain captures the most activity, Chainlink captures value from all
5/ Support for all the leading blockchains creates the largest network of users for which Data Providers can leverage to monetize their APIs

This is why dozens of data providers like Kaiko, Huobi, Tiingo, Kraken, and more run their own #Chainlink nodes on various chains
7/ The accumulation of the above and more (e.g. proven security and reliability) is why the Chainlink Network is the most widely used oracle solution securing $10B+ for the DeFi economy

With 400+ integrations, Chainlink's network effect is growing exponentially
8/ This Network Effect creates a virtuous cycle of growth that ultimately results in new smart contracts securing more value

Both the supply and demand side feed into each other, increasing in frequency as every new participant provides more utility for the network
9/ At the center of this network effect capturing the value is $LINK which is used to

1) Pay Chainlink nodes for their oracle services
2) Subsidize the growth of the network until self-sustainability
3) Provide cryptoeconomic security through implicit and explicit staking
10/ Use this information to your advantage and position yourself accordingly

And remember, the protocol with the largest network effect is the one that accure the most value

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More from @ChainLinkGod

21 Jan
1/ Welcome to a deep dive thread into our latest @SmartContent777 article

I'll explore the God Protocols and how #Chainlink is the last piece of the puzzle to making it a reality

This will be quite a dense thread so buckle up and enjoy the ride
2/ In 1997, computer scientist Nick Szabo (@NickSzabo4) described what he termed the “God Protocols"

This is an envisioned set of computer protocols that could facilitate the execution of an agreement between independent parties without any bias, error, or privacy concerns
3/ Through this, contract participants would consistently get what they are owed, when they are owed, and from whom they are owed, based on a totally objective view of reality

We believe that the combination of blockchains, smart contracts, and oracles are making this a reality
Read 54 tweets
30 Nov 20
1/ Many people have asked me for my response to @haydenzadams' hot take on #Chainlink $LINK

I think he's misconstruing what Sergey is saying about market coverage and not providing the full context on oracle security and the Uniswap TWAP

Thread for context below 👇
2/ Sergey was emphasizing the importance of proper market coverage

This does not mean taking a simple median or mean across exchanges

But instead aggregating data from all trading environments by taking into account liqudity, volume, time and other differences across exchanges
3/ Market coverage is important because it ensures price data reflects the true global market-wide price and not just that of one or a small number of exchanges

Chainlink covers this topic of market coverage and data quality extensively in this blog post
Read 25 tweets
28 Nov 20
Recently, ~$90M in user funds was falsely liquidated due to a failure of @compoundfinance's centralized price feed

I propose to the $COMP governance community that @chainlink Price Feeds be integrated to fix this vulnerability from happening again
I originally attempted to post this proposal on the Compound Governance Forum, however after over 22 hours, it is still "awaiting approval" from the Compound team

As a project based around “community driven governance,” I find it concerning I am being censored in this manner Image
For the sake of transparency and due the urgent nature of the matter, I am posting this proposal on my own Medium page so the $COMP community can decide for themselves if this is the path they want to take.

An open mind is all I ask
Read 4 tweets
23 Oct 20
1/ "The goal is to transition to an active piece of IT infrastructure, empowering the document to communicate with external resources such as data feeds, payments infrastructure, ERP, and CRM systems" -@tgonser, founder of @DocuSign

A #Chainlink thread 👇
2/ Refresher on #DocuSign crumbs

In 2003, Tom Gonser founded @DocuSign and made e-signatures the industry standard for legal contracts

In 2019, Tom joined @Chainlink as an official advisor to the project, and gave a legendary talk with Sergey
3/ Tom understands the value of smart contracts and the importance of secure oracles to connect these contracts to real world data, events, and payments

Take a listen for yourself

In fact, DocuSign has been interested in smart contracts since 2015
Read 6 tweets
3 Oct 20
1/ Creating Definitive Truth, a thread giving insight on Sergey's recent presentation at #SmartCon 2020 covering how @Chainlink generates definitive truth about the real world, the acquisition of deco.works from @Cornell, and much more

#Chainlink $LINK
2/ It's key to understand the importance of definitive truth, the indisputable state of reality

Without it, you have information asymmetry, disproportionately benefiting a select group who have access to privileged information

In essence, definitive truth is data you can trust
3/ Blockchains generate definitive truth about on-chain data

This is achieved with an immutable ledger that cannot be tampered with or manipulated to benefit any one party

Each block in the chain has a cryptographic hash of the previous, creating indisputable definitive truth
Read 24 tweets

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