More blockchain use cases are coming to life, thanks to the ever-increasing interest of decentralized technology enthusiasts. Though still essentially a nascent space, the world is becoming more aware of the boundless possibilities embedded in the blockchain and crypto space.
Popular oracle platform Chainlink (LINK) takes this surge a notch higher with its reliable and secure oracle price feeds. Smart-contract developers are coming up with more use cases, as well as developing decentralized applications (dApps) with amazing functions. These smart-contracts cannot function without access to reliable, secure, and low-cost oracle price feeds; a field that Chainlink – arguably – currently leads.
#Chainlink oracles enable smart contract devs to both fetch external data & perform secure off-chain computations. In this tutorial, learn how to compute on weather data to enhance an on-chain crop insurance contract with more dynamic real-world analysis. https://t.co/DEysBo3NRV
— Chainlink – Official Channel (@chainlink) May 11, 2021
Chainlink and Computational Tasks
Chainlink enhances developer capabilities via its oracle feeds, as more smart-contract use cases are brought to life. Thanks to the oracle platform, developers will be able to create smart contracts that can solve computational tasks. It is also important to note that computational tasks are generally difficult to organize. This can be seen when comparing statistical analysis of weather data against image recognition.
The Chainlink oracle network is designed to provide the computational flexibility vital for carrying out important analysis like weather data computation. It also boasts of a highly adaptable structure that makes it possible for connected nodes to carry out a number of tasks. This also includes carrying out any off-chain data limitation.
The oracle platform also ensures transactions are cost-efficient. This is because it is still able to complete gasless computation as fast as a conventional computer platform.
Chainlink also has a new bridge page. The bridge page will help nodes connect with an external adapter. The bridge page, according to the official blog post, can be found “under the Jobs page of the Chainlink Operator dashboard.”
At the time of publication, Chainlink was trading at $29.47, with a market cap of $12,579,659,201 and a 24-hour trading volume of $2,443,420,116.
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