Chainlink develops blockchain ocracle named Scale

Chainlink Labs announces a program to encourage ecosystem development oracle blockchain, setting the stage for the staking launch at the end of the year.

At the SmartCon event held in New York this week, Chainlink – the platform oracle leading now announced an ecosystem development incentive program blockchain titled "SCALE".

1/ Introducing SCALE—Sustainable Chainlink Access for Layer 1 & 2 Enablement—a #Chainlink Economics 2.0 program.

SCALE accelerates the growth of on-chain systems by blockchains/L2s helping cover the costs of Chainlink oracles supporting their dApps.https://t.co/v7qz8KtF1P

— Chainlink (@chainlink) September 28, 2022

The goal of the program is to reduce barriers to entry and costs for services and configurations oracle before the staking program is launched later this year. In it, new groups that want to access Chainlink data must contribute 3% to 5% their governance tokens. For those active on the network, the program aims to reduce on-chain transaction costs associated with smart contracts. oracle down to near zero.

SCALE is an initiative in the program Economics 2.0 of Chainlink, to improve data security, utility, and operating costs of oracle services.

Initial blockchains partnering with Chainlink Labs on the above initiative include Avalanche, Metis, Moonbeam and Moonriver. Each ecosystem will contribute to the oracle network operating fee.

Project co-founder Sergrey Nazarov said Chainlink Economics 2.0 and SCALE have laid out a possible “comprehensive economic model” for the long-term success of blockchain, decentralized applications and the entire ecosystem. Chainlink.

Chainlink is an important piece in the overall growth of DeFi, once peaked at more than 250 billion USD TVL at the end of last year, but is currently standing at $ 55 billion. Chainlink has become the standard oracle infrastructure for a variety of services, with a transaction-enabled transaction value (TVE) of $6.18 trillion in 2022. This includes swaps, borrowings, and so on. -Lending and Derivatives.

However, the Chainlink community hopes any disparities will be resolved with new programs, as well as the introduction of LINK staking and rewards. The staking program is expected to go live in December, according to Nazarov.

Before the announcement of the launch of SCALE, the price LINK still "calm like a jar", even lost more than 5% brakes in the past 24 hours and is trading around the $7,776 mark.