On May 11th in Tel Aviv, meet up with like-minded community members and hear from @official_CVI on how to build and scale a Web3 startup: meetup.com/chainlink-tel-…
On May 12th in Chicago, discuss the evolution of the Internet, #blockchains, smart contracts, and more at this Chainlink Plugged-In event: meetup.com/chainlink-chic…
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1/ Cryptographic truth is a new form of trust-minimized computing that fundamentally shifts the nature of trust in society—replacing handshakes, brand reputation, and paper contracts with tamper-proof computer code executed on decentralized networks.
2/ Trust-minimization involves methods that limit participants in an interaction from stating false info, stealing from others, going offline, or breaking agreed-upon rules.
When probabilistic variables are reduced, the interaction is more likely to function exactly as designed.
3/ Cryptographic truth is a trust-minimized computing paradigm based on cryptography & decentralized consensus.
Cryptography secures the integrity of actions taken in an interaction while decentralized consensus guarantees fairness, correctness, & uptime when validating actions.
-Securing NFT mints and generating randomized traits with VRF
-Monitoring the backing of tokenized products with Proof of Reserve
-Accessing accurate data with Price Feeds
🧵👇
Helping secure NFT mints and generate randomized NFT traits with @0xPandemic on @0xPolygon
1/ Cryptographic truth is a new form of trust-minimized computing & record-keeping with superior properties to the methods used today.
This 15-part 🧵 explores how blockchains generate cryptographic truth and how #Chainlink vastly extends its application into the real world.
2/ Cryptographic truth is the combination of cryptography and decentralized consensus to deterministically compute applications and generate a “golden record” for all activity between users.
But how exactly are cryptography and decentralized consensus applied in blockchains?
3/ Cryptography is the science of securely communicating in the presence of adversarial behavior. Cryptography is used primarily to
-keep data confidential
-authenticate data origin
-validate data integrity
-establish non-repudiation in communication