Smart contract summit, which will be a three-day event in which more than 200 speakers will talk, including the co-founder of chain-link himself, Sergey Nazarov and guess what the chain-link smart contract summit is called. It’S called smart contract today we’re going to discuss this quickly approaching event, and, besides that, this video will be more of an examination of how the chain link will move into the future. How will it change the future? Those are the topics for today. You already know that this is your daily altcoins join the giveaway by subscribing to our channel and learn more by watching this video.
Now, let’s get down to business first, when is the smart contract summit as chain link’s official page announced on Twitter? The event will start on August 5th and end on August 7th. The idea behind this is simple. People will gather, and speakers will be there too. This is a great way to announce new things, discuss specific things that are not really discussed in the chainlink community, and people get to know some of the people that work to make the chain link better.
The chainlink network provides core oracle infrastructure to hundreds of projects on numerous chains across the rapidly growing blockchain ecosystem. The smart contract is our way to bring our incredible and vast ecosystem together: users, engineers, data providers, node operators, researchers, entrepreneurs, investors, community members and beyond to showcase the latest.
Smart contract innovations and uncover emerging trends that will shape the future of our industry. This is what the smart contract summit website says. So, basically, it is comic-con for tech, nerds and for some reason it is called a summit as the biggest gathering of chain-link fans.
This could be a perfect place for the higher-ups to make some very important announcements, but we have to wait and see if anything comes from it. This event is called the smart contract summit and for those of you who didn’t watch our earlier videos, I will explain what a smart contract is. A smart contract is an agreement that is made by two or more sides.
This agreement is written as a code and it has certain conditions when those conditions are met, the code will execute itself and the end result will be achieved. Let’S take an example, let’s say we want to raise funds for something and the amount of money it says.
Ten thousand dollars, we also have a date on that contract. So if, before the date comes to the amount of money is collected, the contract will be fulfilled and the money will be sent to us. If the amount of money is not collected, it will be returned to the people that funded it in the first place.
The fact that this smart contract is written on a blockchain makes it impossible for me or somebody else to change it. As you probably already guessed, chainlink is one of the well-known providers of smart contract services and that one example is really a drop of water in the ocean of possibilities.
Given enough creativity, you can create whole decentralized applications using smart contract mechanisms. Unlike the name of this summit, chainlink’s name gives itself a great explanation of what it is. It links different blockchains. Well generally, it is very secure to make a smart contract on a blockchain platform. It’s hard to add the data from outside of the platform into the contract that you are writing.
This is chainlink’s, spread and butter. Since the release of the original chain link white paper over three years ago, chain link has grown into the most widely used decentralized oracle solution throughout every emerging. Smart contract vertical, including deFi insurance, gaming, NFT’sand more chainlink, is providing developers with an array of key oracle functions.
Chain-Link price feeds provide an extensive collection of on-chain financial market data for a broad array of assets which is used to secure billions of dollars for leading defy applications like AVI, synthetics and DYDX chainlink VRF generates verifiable randomness, backed by on-chain cryptographic proofs, enabling projects like Avagachi to mint NFT’s, with probably rare attributes and pull together to fairly select winners in its no-loss lottery. Chain-Link proof of reserve supplies.
On-Chain data feeds that enable smart contracts to perform on-demand audits of tokenized asset reserves, such as for stable coins like USDT and pax and cross-chain tokens chain. Link external adapters give developers the tools to create connections to any off-chain resource or API leveraged by label’s paramedic crop insurance market to fetch weather data and Everpedia’s prediction market users to get u.s election results. But do you think that is all there is nope? There’S a lot more coming.
There is a chainlink 2.0 coming on the horizon. The new white paper has already been released and it is wild. We already explained the smartest contracts right, we’ll get ready for hybrid smart contracts. What are those, as they say, hybrid smart contracts, offering a powerful general framework for augmenting existing smart contract capabilities by securely composing, on-chain and off-chain computing resources into what we call hybrid smart contracts sounds interesting right.
It does, and that is just one of the seven key areas where chain link 2.0 will try to improve. Here are the remaining six abstracting away: complexity, presenting developers and users with simple functionality, eliminates the need for familiarity with complex underlying protocols and system boundaries, scaling ensuring that oracle services achieve the latencies and throughputs demanded by high performance, decentralized systems.
Confidentiality enabling next-generation systems that combine blockchains innate transparency with strong new confidentiality protections for sensitive data order, fairness for transactions supporting transaction sequencing is ways that are fair for end-users and prevent front running and other attacks by bots and exploitative miners trust minimization. Creating a highly trustworthy layer of support for smart contracts and other oracle dependent systems by means of decentralization strong anchoring in high security, blockchains cryptographic techniques and crypto-economic guarantees.
Incentive-based crypto-economic security, rigorously designing and robustly deploying mechanisms that ensure nodes in dons have strong economic incentives to behave reliably and correctly, even in the face of well-resourced adversaries. All of these sound like very good ideas and they are, but some of them probably need more explanation.
A more in-depth look at their core details. If only there was a meeting of some sort. That would give the community a chance to discuss all of this, and maybe let the interested people ask questions that they have to the people that have those answers.
Oh, wait! Now you probably understand what smart contract will be all about. There is a lot to talk about, and many dates have yet to be announced for certain things to see. All of that, we only need to wait and also try not to get too mad about the bad names that they call their events. What does this event mean for the chainlink tokens?
Well, since this is the biggest chainlink event this year, it is sure to give some attention to the link. Many people will get hyped by going there. Many more people will get hyped depending on what the new announcements might be made on the smart contract.
As of right now, the link is on a downward trend if you’re a person that knows very little about investing. You would probably think that this is bad, but you are watching our channel, which means that you look at things through their value.
This downward trend is a perfect opportunity to buy as many links as one wants, and when this trend ends, you can double or triple the money invested. This is simple, really buy at a lower price sell for a higher price. It is not a guarantee that the smart contract summit will make the link go to the moon. That is unlikely instead. What I am thinking is that the link will go down for some time until it gains focus and goes on an upward trend.
I don’t know how high it will go, but considering the use of chain links, it is safe for me to assume that it will go up. You should do your own research because this is not financial advice and b. This is just me speculating on a smart contract summit, which is called the smart con.
Why would you call it a smart contract summit if it is going to be called the smartcon anyway? This is your daily altcoins, like this video, if you like me, making fun of terrible names in the crypto world and subscribe.
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