'What is Chainlink? - Intro to the Oracle Network for Hybrid Smart Contracts' chainlink blockchainoracles
Chainlink’s planned Cross-Chain Interoperability Protocol is somehow different as it acts as a communication protocol rather than a side-chain. By removing smaller side-chains from the equation and simply acting as a messaging service between main-chains, it should inherit their security. Central Banks Digital Currencies , which would most likely have their own infrastructure, could be bridged onto the Ethereum DEFI scene, providing much liquidity and.
As more and more Oracle nodes join the network and compete for the fee opportunity, the network’s value accruing mechanisms will also be further enhanced by the development of Staking. As of today, the Chainlink smart contract chooses the node according to a reputation system when matching requests. The reputation is based on their stake and other factors such as speed or up-time. As the node infrastructure quality grows, it is likely that many will become evenly matched on all qualitative aspects. At this point, the ones with the largest stakes will become the chosen ones. Nodes competing for fees will have to buy more LINK tokens or borrow them on the open market.
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