Thread by @mikeyimp

Summary of "Avalanche 🤝 Chainlink" by @DastardlyDaniel for @CL_Community & @scribedao since Avalanche has been on fire lately

#Avalanche + #Chainlink could have the flexibility needed to be the foundation of the “internet of finance.”

How? Let’s take a look🧵👇

When Chainlink price feeds went live on Ethereum, DeFi exploded and projects like @AaveAave & @synthetix_io surged into billion dollar giants.

Now, Chainlink data feeds are available on Avalanche, granting similar opportunities to protocols new and native to $AVAX. But first,

What’s #Avalanche ?
- An L0 blockchain platform built around a new consensus mechanism
- Consists of sub-nets of three main chains emphasizing low-latency, high throughput and scalability.
- There are many more details to the platform, deff read the 101: medium.com/avalancheavax/…

More on #Avalanche Sub-nets:
- Provides horizontal scalability in a "network-of-networks"
- Deploy in the default sub-net or create your own own sub-net that shares validators of the main sub-net.
- Enables many different networks & VMs for people to create/choose from with ease

What’s Chainlink?
- Decentralized oracle network (DON) for communicating between off-chain and on-chain data
- DONs are needed because a centralized oracle can be a single-point-of-failure
- CL 2.0 now goes beyond price feeds
- More on the oracle problem: blog.chain.link/what-is-the-bl…

$LINK & $AVAX Relationship
- Core members (@AriJuels & @el33th4xor) are connected through IC3 & Cornell
- AVAX & LINK are both designed to be extremely flexible.
- Users can fully-customize their sub-nets (AVAX) and DONs (LINK) to fulfill needs for regulation, privacy, & more

Chainlink Cross-Chain Interoperability Protocol (⚠️ oversimplified)

Revealed at #SmartCon, CCIP is standardized, trustless, and fraud-proof cross-chain messaging through the CL network.

CL Programmable Token Bridge - CL covers many chains, this is a way to bridge all of them

CCIP Speculation (⚠️)
With standardized cross-chain messaging, markets can be more accurately measured cross-chain instead of per-chain. Improving overall:
- Borrowing/lending for superior yields
- Money market efficiency
- Protection against exploits (re: $600m Polygon hack)

CCIP + Avalanche

Cross-Subnet transfers are scheduled for Q4-21.
Unclear if this will be possible at the protocol level, but can be handled nicely via middleware like CCIP, with added benefits:
- Less computing stress
- More security
- Interoperability outside of network

AVAX can leverage CL/CCIP to grow into a universal network of sub-networks by standardizing cross-chain bridges & messaging

Build a robust, scalable, and custom cross-chain infrastructure that fits ANY public/private need with a flexible & programmable base layer. "Do anything"

This thread is just the tip of the iceberg! With so much going on like the $180m #AvalancheRush incentive program, it's exciting to see how the network grows and how Chainlink plays a part.

For more summaries like this, follow me and @scribeDAO

For a more in-depth look, definitely read the full article!

https://twitter.com/DastardlyDaniel/status/1425473444888694784