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Introducing Chainlink’s Meta Oracle Capabilities for DeFi

As improvements in blockchain infrastructure continue to accelerate decentralized finance's development, and as the number of live DeFi smart contracts increases, we’re now seeing DeFi approach a critical tipping point. Chainlink has already been playing an important role in DeFi’s rapid growth by creating a data-rich environment where smart contract developers can easily and securely build more advanced financial products that rely on market data, e.g. derivatives, money markets, lending, and many more. Successfully providing the largest collection of on-chain market price data available to the DeFi ecosystem is something that’s already substantially accelerated new DeFi product launches and greatly improved the security of existing smart contracts.

Smart contracts are unique because of their security and reliability guarantees for enforcing a contractual outcome, which is achieved through cryptographically provable, decentralized computation from multiple independent nodes. This security model is what underpins Bitcoin, Ethereum and almost all other main-chain/layer one protocols.

The realization of truly decentralized finance is dependent on additional infrastructure that extends this same security model to the capabilities needed to create more advanced financial products, e.g. derivatives. In order to provide this additional key functionality, Chainlink has been successfully providing a form of decentralized computation (decentralized oracle networks) that securely connects DeFi smart contracts to all critical off-chain data needed to launch, grow and remain secure as their smart contracts control more value.

With Chainlink now able to reliably provide smart contracts access to any off-chain data source in a decentralized, secure and reliable manner, we’re thrilled to announce our upcoming meta oracle functionality, which extends Chainlink’s capabilities to aggregating and reacting to any/all on-chain data. This meta...

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