ChainLink Review and Rating

Here’s ChainLink’s “A Decentralized Oracle Network” (September 2017 version) whitepaper review and ranking:

ChainLink’s decentralized network of Oracles addresses an important trust issue existing in the smart contracts ecosystem when decentralized contracts have to rely on a centralized data source.

Among other features it proposes to deflect the freeloading attack, when a cheating oracle can observe the response of another oracle and copy it, by implementing the “commit /reveal scheme” when the session is split into two rounds (first round — to collect multiple Oracles commitments; second one — for Oracles to reveal their responses).

This important paper aims at the niche market (B+ for “Vision”) with the technologically comprehensive solution backed by an experienced team of DLT designers and coders (A for “System”). At the same time, issuing LINK tokens, which are supposed to be used for compensating node operators retrieving off-chain data, has a purely speculative purpose (“C” for “Tokenomics”). Additionally, none of the business sides of this project (team, milestones, business processes, finance etc) were revealed at the time of this paper publication in September 2017 (“C” for “Entrepreneurship”).

Rating: AB+CC