ChainLink Token (LINKUSD)

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Hybrid Smart Contracts” Will Change DeFi and the World, Says Chainlink CEO
(From 2 weeks ago)

In a recent interview at BlockDown 2021, the co-founder of Chainlink detailed how the current macro environment is bound for a steep crash akin to the 2008 financial crisis. At that point, Sergey Nazarov believes DeFi will be the only alternative.

A smart contract is a codified agreement on the blockchain. Through oracles, smart contracts can confirm conditions that are not themselves verifiable on the blockchain. It is the bridge between real-world events and lines of code.

Imagine an insurance contract that would reimburse a farmer if a certain threshold of rain hadn’t been met. Using oracles, contracts can integrate external information, such as rainfall or any other externality. Chainlink performs this critical task for many projects in the ecosystem, including Sushiswap, Kraken, and Nexo Finance.

With Chainlink 2.0, the project’s latest upgrade, Nazarov said that Chainlink would scale hundreds of off-chain systems to thousands, allowing for more original use cases and adding greater functionality to current smart contracts and decentralized apps.

https://cryptobriefing.com/hybrid-smart-contracts-will-change-defi-world-says-chainlink-ceo/