Regulating digital tokens
Jesse Lund, vice president of blockchain at IBM, talks to Tonya Hall about ways that digital tokens can be regulated.
So how will development for smart contracts on Chainlink look like? Does it come down to writing Solidity — which is not the easiest thing in the world for most people? Currently smart contracts create their requests from on-chain, and that request is picked up by the Chainlink node.
In the near future, Chainlink said, they will allow for requests to be initiated from off-chain services directly to a Chainlink node. This allows for requests to be created faster than the typical block time of the Ethereum network.
It also opens the door for faster blockchains to receive data at their native speed. Chainlink nodes can already query data on other blockchains with external adapters, the only caveat is a requester would need to use a Chainlink node with connectivity to that blockchain.
All in all, this is a much welcome development for smart contracts, Ethereum, and blockchain at large. It means the next step in the evolution of this ecosystem is now possible.
Granted, not everything is rosy, and smart contract and oracle development is bound to hit some of the same issues tantalizing software development and data management for decades. Hopefully known solutions to those issues can eventually be applied to foster the growth of this ecosystem, too.
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