/biz/ - Business & Finance

Huge increases in contract throughput and storage capacity since bandwidth isn’t limited to any underlying blockchain consensus mechanism.
Almost complete elimination of gas costs, since computation is done off-chain and only final results are posted back on-chain
Chainlink: long-term viability as a standard layer in the web3 protocol stack.
Oracles far more functionality than data messaging. Become even more powerful when trustlessly process and perform scalable computations on that data using a trust-minimized form of computation like Arbitrum
SCs split into two parts: scalable off-chain computation and on-chain dispute resolution and/or settlement
Add additional security layer by staking LINK as collateral to back computations & allow system to scale as it grows in value
Use cases include determining collateral ratios for money markets, calculating aggregated interest rates for lending protocols, or managing portfolios by distributing assets based on collective market analysis
Many industry use cases are unfeasible on public blockchains due to lack of privacy and slow transaction. Arbitrum: high transaction speeds of traditional non-blockchain infrastructure + private, trustless computation of multiparty contracts that avoid information leakage of sensitive data
If a project launches an Arbitrum rollup chain can outsource validation to Chainlink nodes
Chainlink’s stood out as an obvious choice given its strong technical team advised by leading academic researchers, great track record of substantially solving the oracle problem for blockchains and robust set of secure nodes/validators for securely executing off-chain computations. Our long-term collaboration will open up a whole new realm of trust-minimized applications that are fully connected to the real world, yet scale to meet the current demands of traditional systems.” — Ed Felten, Co-founder of Offchain Labs, Computer Science Professor at Princeton, and former White House Deputy CTO