Finance
Share this article

Value Secured by Chainlink Data Soars 10-Fold in Less Than a Year

The value of smart contracts dependent on data from Chainlink’s oracle networks has climbed to $75 billion.

By Tanzeel Akhtar
Updated May 11, 2023, 4:02 p.m. Published Nov 4, 2021, 4:00 p.m. 1 min read
Chainlink co-founder Sergey Nazarov
Chainlink co-founder Sergey Nazarov

Chainlink, the biggest provider of data to smart contracts, said the value of smart contracts dependent on its feeds has climbed to $75 billion.

  • The total value secured (TVS) has soared from $7 billion at the end of last year.
  • Chainlink’s oracles feed data such as weather and sports results from external sources to blockchains such as Ethereum, Binance Smart Chain and Avalanche. The data allows decentralized finance (DeFi) applications to trigger their smart contracts when conditions are met.
  • “Without trusted price data to trigger smart contracts, it is impossible to build DeFi applications, and we do not think it is a coincidence that the rate at which Chainlink has been able to bring new market data onto blockchains has been the rate at which developers have been able to build exciting new DeFi apps,” said Sergey Nazarov, co-founder of Chainlink.
  • In August, Swisscom, Switzerland’s largest telecommunications provider announced it is launching a Chainlink oracle node to provide data for DeFi.

Read more: Chainlink Unveils Crypto ‘Keepers’ and Anti-Fraud Blockchain Bridges

UPDATE (Nov. 4, 16:21 UTC): Changes “value of investments” to “value of smart contracts” in first paragraph.

ChainlinkDataOracles

More For You

Prometheum bets Wall Street distribution is the missing link for tokenized securities

By Will Canny, AI Boost|Edited by Stephen Alpher
22 hours ago
Road sign saying "Wall Street"

Crypto has solved tokenization, but not distribution and Prometheum says broker-dealers and RIAs are the key to bringing digital assets into mainstream finance.

What to know:

  • Prometheum launched new infrastructure allowing broker-dealers and RIAs to offer tokenized securities and crypto assets through traditional brokerage accounts.
  • Aaron Kaplan, co-founder and co-CEO of Prometheum says tokenization has advanced faster than distribution, leaving blockchain-based securities without mainstream investor access.
  • The company is betting regulated Wall Street firms will drive...
Read full story