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.
- “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.
UPDATE (Nov. 4, 16:21 UTC): Changes “value of investments” to “value of smart contracts” in first paragraph.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.