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Sunday, November 14, 2021

Getting started with Chainlink for developers

Chainlink offers developer the ability to use Oracles for writing hybrid smart contracts. 

Top Features:

Oracle: 

this is a keyword you will hear a lot getting started with Chainlink. 
What are oracles:
"mechanisms of blockchains, smart contracts have no built-in capabilities for interacting with external resources like data providers and API services as a means of verifying the outcome of real-world events happening outside the blockchain. This creates what is known as the blockchain oracle problem and represents one of the greatest limitations to representing everyday contracts on the blockchain. To overcome this lack of connectivity, hybrid smart contracts use oracles as middleware to retrieve external data inputs, push data outputs to external systems, and perform scalable off-chain computations. Not only do oracles serve as a two-way bridge between smart contracts and the outside world, but they also provide a security framework for protecting against any single point of failure such as data manipulation and downtime." - official doc

Data feed: 

"Chainlink Data Feeds are the quickest way to connect your smart contracts to the real-world market prices of assets. For example, one use for data feeds is to enable smart contracts to retrieve the latest pricing data of an asset in a single call." 

data from different chains, and even real world data e.g. weather, e.g. retrieve the current ETH/USD price. Clients include top DeFi apps.

Data feed - contract addresses : 

Chainlink warns the data quality is important. Always check if you are using the best quality data feed.  https://docs.chain.link/docs/reference-contracts/

Programming language:

You will get experience with (no prior experience required): Solidity, Javascript with web3.js, Python with Web3.py (if you prefer python > javascript)

Tutorials landing page: 

https://docs.chain.link/docs/tutorials/

Chainlink hackathon: 

There are many workshops and bootcamps to help you get started. View past winners https://docs.chain.link/docs/example-projects/

Chainlink use case


Read more ... 77+ Smart Contract Use Cases Enabled By Chainlink . Trivia knowledge: this post used to be called 44 ways, and now it is increased to 77 ways. More on chainlink use cases. 


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