/biz/ - Business & Finance

TLDR: Chainlink has become obsolete. Dfinity's Internet Computer will likely become a sort of orchestration layer by combining chains from within the crypto ecosystem (BTC/ETH are the only ones worth noting), and by bridging with the web2 through HTTP outcalls. It will take a year or two before developers realize this.

Up until now, Chainlink has been used by smart contracts to obtain off-chain data. However, services are usually provided by corporations and other trusted intermediaries by copying off-chain data onto the blockchain.
Why is this an issue? Because these services have to be trusted to not have bad intentions, to not get hacked, and to be paid.
Additionally, smart contracts still can NOT interact with off-chain services, like calling into a web API. This severely limits the type of dapps that can be built on-chain.

Chainlink was a great first step to connecting blockchain to the real world, but Dfinity has finally solved the oracle problem plaguing the space for a decade. BTC, ETH, ICP will be the holy trinity - the markets just haven't realized it yet.