Scaling Oracle Network Security With Staking

Just as Chainlink oracle networks can differentiate themselves through proven performance and strong reputations, staking will provide an opportunity for oracle networks to set themselves apart by offering increased cryptoeconomic security.

As oracle networks implement reliability best practices and increasingly robust infrastructure, they reach a plateau around security impact. Staking is a mechanism that can empower oracle networks to provide greater security guarantees and capture more fee opportunities.

Similar to Proof of Stake blockchains, the aim of Chainlink staking is to further incentivize honest node behavior. However, because oracle networks achieve consensus around dynamic off-chain environments, Chainlink requires a sophisticated staking model for incentivizing nodes.

For a walkthrough of the different staking dynamics within blockchain networks, DeFi protocols, and decentralized oracle networks, dive into our staking explainer: https://blog.chain.link/what-is-staking/

Watch the complete The Future of Chainlink presentation here: https://www.youtube.com/watch?v=YShbzR7mlog

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink:

Website: https://chain.link
Docs: https://docs.chain.link
Twitter: https://twitter.com/chainlink

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