Chainlink (LINK) creator Sergey Nazarov is detailing his vision for the future of the decentralized oracle network, as well as the future of the crypto industry at large.
In a new interview with Bankless, Nazarov says the crypto industry is still in its early days.
He points to Chainlink’s success at bringing real-world data into decentralized networks as only the beginning.
“I think tokens and ownership, whether they’re equity tokens or utility tokens or NFT tokens (non-fungible tokens), is just the beginning. Our goal with the Chainlink network is to level everything up, and I’m very proud that we’ve had a big impact on that, in DeFi (decentralized finance) insurance and fraud-proof gaming, in carbon credit markets – a number of places.”
Nazarov says his ultimate vision for Chainlink and for the industry is to offer an open-source, decentralized foundation that gives people and companies software-based trust without the need for middlemen.
“If you look at the percentage of the applications running in an oracle network versus the percentage running on-chain, those percentages are starting to look more and more equal, which means that oracle networks are continuing to provide greater and greater value. Whether that value is transferring tokens, transferring messages between chains, sending data, doing computations, providing randomness, providing identity information in a privacy-preserving way – there is a very large and growing array of computations that need to be trust-minimized…
To keep it really brief, our goal is to build a world powered by truth by transitioning all the world’s applications into a trust-minimized state. So we want everything to become trust-minimized, and I feel that the Chainlink network makes the infrastructure that will allow that transition to happen, together with the other key infrastructure of our industry like Ethereum, various other chains and so on.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong