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Technology

Chainlink Launches Platform to Help Web2 Connect With Smart Contracts

The beta version of Chainlink Functions is now live on the Ethereum Sepolia and Polygon Mumbai test networks.

By Camomile Shumba, Aoyon Ashraf
AccessTimeIconMar 1, 2023 at 5:47 p.m. UTC
Updated Mar 1, 2023 at 6:24 p.m. UTC
Chainlink co-founder Sergey Nazarov (Chainlink Labs)
Chainlink co-founder Sergey Nazarov (Chainlink Labs)

Blockchain data provider Chainlink has released a platform that will enable developers to connect data to smart contracts, the company said on Wednesday.

Chainlink Functions will allow any smart contract – blockchain protocols that execute the terms of a contract – to connect to any Web2 application programming interface (API).

"Until now, Web3 developers couldn’t connect their smart contracts to existing Web2 APIs to access social-media signals, AI (artificial-intelligence) computation, messaging services and more," the company said in a blog post.

The beta version of Chainlink Functions is live on the Ethereum Sepolia and Polygon Mumbai test networks, the company added. The Chainlink token (LINK) was little changed on Wednesday at $7.41.

“Chainlink technology is an ideal way to provide smart contract developers anywhere in the world with direct, on-demand access to AP’s (Associated Press) trusted economic, sports and election race call data," Michael Fabiano, head of Americas Media at the AP, told CoinDesk in a statement. "With the launch of Chainlink Functions, it will be easier than ever for AP-licensed developers to integrate AP data with innovative smart contracts and deploy new use cases across leading blockchain networks.”

Chainlink has aimed to provide products to connect the world with blockchain technology. In September, the company announced a partnership with SWIFT, an interbank messaging system, to help SWIFT make token transfers and communicate across all blockchains.

Read more: SWIFT Is Partnering With Chainlink: Here’s the Down-low on the Blockchain Data Provider





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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Camomile Shumba
Camomile Shumba

Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.

Follow @camomileshumba on Twitter
Aoyon Ashraf
Aoyon Ashraf

Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

Follow @Aoyon_A on Twitter