/biz/ - Business & Finance

>So we continue to notice the rate at which we put data on chain is the rate at which people are able to make markets and financial products and insurance products and all kinds of smart contracts around that data. And so what we are now reaching is a new chapter in Chainlink’s scalability, where we’re genuinely looking at a 10x increase in scalability so we expect that to create a 10x increase in the amount of data we’re able to put on chain as well as our ability to integrate in many different chains. So what we’re basically seeing is the degree to which we’re able to efficiently put more and more data onto a blockchain and various blockchains is the degree to which people are able to build more and more financial products around that data. And as we are seeing and are in the process of now finalizing the launch of, a 10x in the amount of data we can put on, we expect that to have a ripple effect through the larger defi ecosystem to create even larger amounts of decentralized financial products out there in the market. And then from there we continue to both increase the breadth and type of data that we will be providing, increasing the breadth of the types of smart contracts that can be made on chain, as well as the depth and quality of data that we’re providing to various use cases which will subsequently make them more reliable, larger in the amount of value that they can hold and kind of just create growth. So our goal is to continue to support the decentralized financial movement and ecosystem by providing more and higher quality data and we’ve already seen that our ability to do the allows that ecosystem to grow which is something that we’re extremely proud to be a part of.

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>In our system I think its very clear, you need incentives for people to provide the correct data. The way I look at it at the core, its not a coincidence that bitcoin can function and have all this hash power and have all these kind of computing systems working to expend serious resources with then makes it difficult to attack. So you have a dynamic where people have a resource, and that resource is attached to the proper operation of a certain protocol. And if there is deviation from the protocol by the participants, then resource they have loses value.