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A smart contract contains the “terms” of a blockchain transaction between a buyer and a seller as well as the capabilities to execute those terms. In order for smart contracts to include outside data from the world, such as stock market data, weather, sports data, etc…, the contract needs a third party service called an oracle. The industry standard blockchain oracle is Chainlink.
Chainlink is a decentralized and open-source oracle network that connects to any blockchain with seamless API connections. Their nodes connect to trusted data with cryptographic proofs that make their network tamper-proof. Chainlink is used with smart contracts that secure billions of dollars of value for blockchain projects. Their oracle network greatly expands the value of smart contracts and is used to create cutting-edge, modern blockchain applications.
Sergey Nazarov is the co-founder of Chainlink and joins us to talk about their platform. He is an expert in smart contracts and discusses Chainlink, the role of oracles in the blockchain ecosystem, and the future of smart contracts and blockchains.
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The post Chainlink: Connecting Smart Contracts to External Data with Sergey Nazarov appeared first on Software Engineering Daily.