Blockchain oracle provider Chainlink this week crossed $75 billion in total value secured (TVS).
“Crossing $75 billion in total value secured makes the Chainlink network one of the most value securing forms of decentralized consensus on the planet,” said co-founder Sergey Nazarov. “(Our) networks are securing the most valuable smart contracts across multiple chains. Without trusted price data to trigger smart contracts, it is impossible to build DeFi applications, and we do not think it is a coincidence that the rate at which Chainlink has been able to bring new market data onto blockchains has been the rate at which developers have been able to build exciting new DeFi apps.”
The network is made up of independent oracle nodes, run by DevOps teams from such companies as Deutsche Telekom’s T-Systems and Swisscom, and others. Since its mainnet launch, the company said more than 700 oracle networks have gone live and have served in excess of 600 million data points to more than 10 different blockchains.
“Market data in DeFi is just the first area where Chainlink is beginning to secure and trigger massive amounts of smart contract value. As more and more organizations launch Chainlink nodes, we’re seeing all sorts of datasets enter blockchains through Chainlink,” Nazarov noted. “Additionally, Chainlink oracles are rapidly moving beyond data delivery and into the world of off-chain computation, meaning the network can provide randomness, automation, privacy, and scalability for smart contracts, expanding what those hybrid smart contracts are able to achieve.”
New types of data that have recently been made available on-chain through Chainlink include weather data from Google Cloud Platform and AccuWeather, as well as sports and election data from the Associated Press, the first major news organization to become one of their node operators.
The company recently launched Keepers, which enables the secure automation of smart contracts.
The company also announced the Cross-Chain Interoperability Protocol (CCIP), which provides a universal, open standard for developers to build secure services and applications that can send messages, transfer tokens, and initiate actions across multiple networks.