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CHAINLINK: BLOCKLORDS to Use Chainlink Oracles for Off-Chain Gaming Solutions, Collaboration with Enigma, and Chainlink is helping Ampleforth to become a better ‘reserve currency’

Biweekly update 26th November — 10th December

The Blocklords game will cooperate with Chainlink using its oracles for improving the game’s performance. Both companies have announced that they are working on improving the blockchain gaming experience. For Chainlink, this type of project is a completely new undertaking. And yet the company seems to be content to enter the blockchain gaming space.

Enigma and Chainlink announced a new collaboration, focusing on the integration of their protocols to enable powerful new use cases for secret smart contracts. Integrating Enigma’s and Chainlink’s protocols can have both near-term and longer-term benefits for developers and users. More complex integrations can maximize the combined and independent power of Enigma’s secure computation protocol and Chainlink’s decentralized oracle network. One such integration is the use of Chainlink nodes to submit oracle data as tasks to Secret Contracts. Application developers will be able to use APIs available via Chainlink to trigger events in their contracts.

Ampleforth, a commodity-money, like Bitcoin or gold, but with near-perfect supply elasticity, like fiat, will be the first monetary asset to use Chainlink oracles to aggregate secure and timely off-chain pricing data for its protocol. Through the Chainlink integration, Ampleforth’s Market Oracle (volume-weighted price) and CPI Oracle (current price target) will be powered by nine different incoming price feeds from three different aggregators, which act together to determine the magnitude of AMPL’s supply adjustment every 24 hours.

More to follow!

Development

Github metrics
Developer activity (from Coinlib.io)

Social encounters

During the long hard crypto winter of late 2018, many projects perished or withered in those hard times, but during all this Chainlink managed to keep growing and even defy the bearish market. How did Chainlink manage to grow when most of the crypto market crashed and remained stagnant? Let’s find out!

Problem

Blockchains are great because they use math–cryptography if you want to get technical–to practically guarantee security, trust, and decentralization. The problem is each blockchain is its own universe. Getting information to and from the outside world has always created vulnerability–the need to trust a source outside the blockchain to provide accurate information. To retrieve information about event outcomes or something as simple as the price of Bitcoin meant having to trust a source to tell the truth, not cheat, and not be compromised–creating a single point of failure. Enter Chainlink.

What is Chainlink?

Chainlink figured out how to get information in and out of a blockchain in way that was still secure, trustworthy, and decentralized. Sources of data between the blockchain and the “real” world, known as oracles, no longer needed to be a single point of failure for a smart contract program. Chainlink created a network of nodes to provide information to and from the blockchain and as a result created a vital piece of smart contract infrastructure. This “blockchain middleware” meant Chainlink oracles could provide essential information such as price feeds, event results, and links to traditional payment systems without sacrificing on decentralization or security.

Who Invented Chainlink?

Chainlink was founded by current CEO Sergey Nazarov and current CTO Steve Ellis.

A brief history

What’s so special about it?

Where the blockchain meets the outside world has been a huge vulnerability in decentralized applications (dapps) until Chainlink created a secure bridge. The points where data comes into the blockchain are also the points where data can be manipulated, compromised, or simply falsified–these points of failure are where Chainlink creates value.

To minimize the potential failure of oracles, they prioritize three principles in their whitepaper: “(1) Distribution of data sources; (2) Distribution of oracles; and (3) Use of trusted hardware”

What else is different?

Chainlink’s real use case is demonstrated by its long list of partners such as Polkadot and Synthetix from the crypto world as well as SWIFT and Google from the traditional business world.

For example, a real-world money transfer can be sent into the blockchain from SWIFT via Chainlink. Then proof the payment was received could be sent back via Chainlink to SWIFT. The use of Chainlink by SWIFT creates a seamless interaction between the traditional and crypto worlds while minimizing the potential points of failures.

How does it work?

Chainlink is a decentralized oracle network consisting of purchasers and providers of data. Purchasers request data and providers return data in a secure way.

Purchasers select the data they want and providers bid to provide that data. Providers must commit a stake of LINK tokens when they make a bid, which can be taken away if they misbehave. Once providers are selected, it is their job to bring the correct answers on chain.

Chainlink uses an oracle reputation system to aggregate and weight the data provided. If everything goes smoothly, providers get paid and everyone is happy.

How do you get hold of Link tokens?

The Chainlink network uses an ERC677 token that inherits functionality from the ERC-20 token standard and allows token transfers to contain a data payload. It is also used for payment of data providers who bring and translate data into the blockchain, which are paid by the data purchaser. The prices for their services are determined by the data providers or oracles when they make their bids.

Besides earning LINK tokens as a provider, you can also buy LINK tokens on Coinbase, Binance, and Huobi.

What can you do with Chainlink?

Though Chainlink started on Ethereum, their oracle services are also available on other blockchains such as Bitcoin and Hyperledger. Both independent developers and large companies can sell data as node operators to the Chainlink network and be paid LINK tokens in the process.

The Future

Two of the key objectives to ensure security on the Chainlink network are distribution of data sources and distribution of oracles. Like all networks, Chainlink wants to add more people and operators in order to become more robust and valuable–increasing their network effects. This means not only pursuing more partnerships, but also advocating for more education, events, and relationships through their new Chainlink Commnity Advocate program.

See also:

Finance

Token holders and the number of transactions (information from Etherscan.io)

Node operators

As a trusted infrastructure provider for 30+ blockchains, InfStones is always searching for projects making a tangible impact in the blockchain ecosystem. InfStones launched Chainlink node with the goal of providing decentralized oracle services that connect blockchains to the outside world.

About InfStones

InfStones is a Silicon Valley-based technology company that specializes in cloud infrastructure for blockchains. The core team is comprised of experienced senior engineers and driven business leaders from established companies in the hi-tech industries.

Providing highly available infrastructure for blockchain has always been at the center of InfStones mission. To successfully deploy nodes across a variety of blockchains, hosts are required to formulate unique and well thought out plans to support their distinctive features and network conditions. InfStones utilizes multi-region, multi-zone cloud deployment to ensure redundancy while achieving node monitoring and disaster prevention 24/7 through automation. InfStones is elected as Super Nodes for Top DPoS chains, including EOS, Tron, Vechain, Ontology, and Bytom. InfStones is also actively operating staking nodes on major PoS chains, including Tezos, Cosmos, and IOST.

Roadmap

Source

Partnerships and team members

BLOCKLORDS, the first medieval grand strategy game designed around blockchain technology, is collaborating with Chainlink around the goal of deploying new gaming-related use cases that provide users with safer, more functional blockchain games. Leveraging the full potential of Chainlink oracles will enable the transmission of secure data inputs and outputs to and from the various smart contracts used to power BLOCKLORDS. Not only will this improve the game’s performance and user experience, but it also enables the creation of new decentralized features that were previously not feasible.

An Epic Journey That is Just Beginning

Having already launched its first game on the NEO and TRON blockchains, Arctic Seascape (the studio behind BLOCKLORDS) is dedicated to building a future where games provide real-world value to dedicated users, while helping to spread mainstream blockchain adoption. With BLOCKLORDS 2.0, the aim is to build a decentralized game with deeper gameplay by incorporating a scalable layer-2 solution that makes it possible to offer free and fast transactions to users, significantly improving their experience.

BLOCKLORDS & Chainlink

Games are about as complicated as it gets when it comes to building dAPPS. Users have to interact with smart contracts, call multiple servers, and play on a game client interface. This means that each user has their own real-time datasets that need to maintained and computed at any given moment.The many sources of inputs and outputs make securing data a crucial part of the process as a discrepancy in the data sent to and from the smart contracts can have significant consequences. With Chainlink oracles, the off-chain data created within BLOCKLORDS can be securely transmitted to and from the various smart contracts that determine battle outcomes, item quality, EXP rewards, resource generation, market trades, and much more.

The Enigma and Chainlink teams announced a new collaboration, focusing on the integration of their protocols to enable powerful new use cases for secret smart contracts.

As projects, Enigma and Chainlink share many commonalities, including strong technical teams, focuses around solving privacy and scalability, and a collaborative mindset. By enabling the connection between the two networks, novel solutions can emerge to some of the biggest problems facing the blockchain space, particularly privacy, scalability, and external connection. This will open up new product offerings in areas like decentralized finance (DeFi), as well as solutions for traditional industries, such as in credit, healthcare, machine learning, global trade, and many more.

To date, Enigma and Chainlink are already working together as members of larger industry-wide initiatives and alliances. Both projects are contributors to the Trusted Compute Framework (TCF) working group inside the Enterprise Ethereum Alliance. In addition, both Enigma and Chainlink are recognized as “best-in-class” protocols within Outlier Ventures’ Convergence Stack, a collection of open-source technologies that promise to revolutionize the way data is used, consumed, and protected. This collaboration will expand upon these ongoing efforts and create new value for both ecosystems and communities.

Areas of Collaboration

As mentioned, integrating Enigma’s and Chainlink’s protocols can have both near-term and longer-term benefits for developers and users. In the short term, they are exploring how Chainlink’s price oracles can be directly integrated with Enigma’s secure computation protocol to improve usability and end-user experience. One key use that was identified is facilitating ENG/ETH gas price conversion with Chainlink oracles.

“Secret contracts” on Enigma interoperate with other smart contracts using an Ethereum callback mechanism. When giving a task to Enigma, a user pays for both the secret contract computation and Ethereum callback in ENG. Since it is the Enigma worker who submits the Ethereum callback transaction on-chain, paid ENG must include the ETH gas cost of the callback to maximize usability. Therefore, the going rate for ENG/ETH must be available on-chain. By integrating a Chainlink oracle, a median conversion rate can be calculated from multiple data sources, mitigating the risk of price manipulation.

In the longer term, more complex integrations can maximize the combined and independent power of Enigma’s secure computation protocol and Chainlink’s decentralized oracle network. One such integration is the use of Chainlink nodes to submit oracle data as tasks to Secret Contracts. Application developers will be able to use APIs available via Chainlink to trigger events in their contracts.

Some potential use cases in which the two protocols can address existing challenges in the blockchain space include:

  • Off-chain payments: a non-crypto payment could trigger the release of data within a secret contract.
  • Social integrations: a Twitter “following” list could be used to whitelist certain users, and be updated in real-time.
  • Cross-chain activity: events on Bitcoin and other blockchains could be used in the logic of secret contracts.

On the enterprise side, Enigma provides an implementation of the Trusted Compute Framework that is compatible with Ethereum mainnet. This can bridge the needs of enterprises with the benefits of a public, permissionless blockchain. Enigma enables common enterprise use-cases around logistics and tracking, secure data-sharing, access-control, and identity management. A Chainlink oracle integration closes the loop between real-world data feeds, private computation with Enigma, and the public Ethereum blockchain.

At a high level, all these use-cases involve using Chainlink nodes to submit task data to a secret contract on Enigma. The diagram below outlines a high-level potential model for this integration.

Ampleforth announced today that it will be the first monetary asset to use Chainlink oracles to aggregate secure and timely off-chain pricing data for its protocol. Through the Chainlink integration, Ampleforth’s Market Oracle (volume-weighted price) and CPI Oracle (current price target) will now be powered by nine different incoming price feeds from three different aggregators, which act together to determine the magnitude of AMPL’s supply adjustment every 24 hours.

The Ample is a commodity-money, like Bitcoin or gold, but with near-perfect supply elasticity, like fiat. The token utilizes an elastic supply policy to address the deflationary problems of natural commodity-monies by automatically increasing or decreasing the quantity of tokens held by each user, based on the previous day’s average price.

AMPL’s rely on accurate market oracles to inform the supply adjustment of its token. It does so by leveraging pricing data from the protocol’s Market Oracle (24-hour Volume Weighted Average Price) and a CPI Oracle (the current price target, a metric measured by the Personal Consumption Expenditure from the Bureau of Economic Analysis). With Chainlink, Ampleforth’s Market Oracle will be supplied with the daily 24hr VWAP of AMPL/USD across three different aggregators (BraveNewCoin, Kaiko, CryptoCompare) and two upcoming. Currently, Ampleforth’s markets include:

  • Bitfinex: AMPL/USD, AMPL/USDT, AMPL/BTC
  • Kucoin: AMPL/BTC, and AMPL/USDT
  • Uniswap: AMPL/ETH
  • Bancor: AMPL/BNT

Smart contracts are corruptible through inaccurate and slow data. Chainlink solves this problem by connecting smart contracts to the real-world via a secure, decentralized network of oracles that ensure relevant and accurate data is fed into the ecosystem. Ampleforth is tapping into Chainlink’s network as a source of price and CPI information for its elastic supply protocol, which ultimately improves price discovery and further decentralizes the asset.

About Ampleforth

Ampleforth is a digital asset protocol for smart commodity-money funded by Brian Armstrong, True Ventures, Pantera Capital, and Slow Ventures. Linked here you’ll find a short video that explains what an AMPL actually is.

Rumors

No updates

Social media metrics

Social media activity
Social media dynamics
Social media dynamics

The graph above illustrates changes in the number of Chainlink Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.

This report is not financial advice.

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