Chainlink is a critical infrastructure for the Web3 economy, today supporting over a thousand Oracle networks. With Chainlink continually launching new categories of Oracle services on an increasing number of blockchains, it is important that the security of the network be extended to match the increasing amount of value secured within Chainlink-powered applications. . The release of Staking v0.1 represents a major milestone in Chainlink’s new era of sustainable growth and security, known as Chainlink Economics 2.0.

“The Chainlink Network has successfully scaled to support most major DeFi protocols and many other new smart contract verticals, enabling more than $6.6 trillion in transaction value this year. Getting to such a large economy gives the network a great foundation to launch Economy 2.0 and this initial version of Staking,” said Chainlink co-founder, Sergei Nazarov. “As the network continues to expand, Chainlink Staking will continue to evolve and provide enhanced security across our ecosystem and across Web3.”

The first phase of Chainlink Staking is a beta version v0.1, consisting of a staking pool that helps ensure the ETH/USD data feed in Ethereal Mainnet Participants earn rewards for supporting the performance of the Data Source, specifically by being able to participate in a decentralized alert system that flags if the Data Source has not met certain performance requirements with respect to uptime.

The beta version of the participation group will initially have a limit of 25M LINK, representing approximately 5% of the current circulating supply and 2.5% of the total supply. The participation pool will initially contain two types of participants: node operators and community participants, with the potential to add additional types of participants in the future. Participation in Staking v0.1 will initially be limited to node operators actively serving Chainlink data feeds and addresses that qualify for early accesswhile general access will open within two days.

The release of Chainlink Staking v0.1 serves as a turning point for both the Chainlink Network’s security and its economic design. Combined with other key Economics 2.0 programs such as CONSTRUCTION of chain links Y SCALE chain link, the Chainlink ecosystem is entering its next stage of sustainable growth and increased crypto security. To learn more about how Staking v0.1 works and to find out if you’re eligible to participate today, visit the Chainlink Staking v0.1 Release Details Blog.

About Chainlink

Chainlink is the industry standard Web3 service platform that has enabled trillions of dollars in transaction volume across DeFi, insurance, gaming, NFTs, and other major industries. As the leading decentralized Oracle network, Chainlink enables developers to build feature-rich Web3 applications with transparent access to real-world data and off-chain computing on any blockchain and provides global enterprises with a universal gateway to all the block chains.

Learn more about Chainlink by visiting link of the chain or by reading the developer’s documentation at docs.chain.link. To discuss an integration, go to an expert.

SOURCE Chainlink