Chainlink Keepers, a Decentralized Service run by the Chainlink Network, has been activated on the Ethereum mainnet. It accelerates hybrid smart contract advancement by providing developers with access to dependable and safe off-chain calculation services. By utilizing Chainlink Keepers, developers no longer need to use manual methods, count on centralized services or make profound protocol changes in order to control on-chain tasks based on predetermined conditions—they can simply assign jobs to Chainlink Keepers.
“I and the entire Chainlink Labs team are excited to see Decentralized Oracle Networks rapidly going beyond the provision of off-chain data. Providing a decentralized off-chain computation environment for smart contracts is a large step forward in what smart contracts can do and a sign of how hybrid smart contracts will be built in equal measure across blockchain networks and oracle networks like Chainlink.”
– Chainlink Co-Founder Sergey Nazarov
Chainlink Decentralized Oracle Networks (DONs) provide hybrid smart contract developers with a broadened selection of off-chain computation services, including Chainlink VRF and OCR, as well as Chainlink Keepers. Through Keeper-compatible smart contracts, developers can deploy Solidity code to verify predetermined conditions, followed by broadcasting transactions with off-chain inputs that activate on-chain functions. Such applications range from limit orders in exchanges to scheduled yield harvesting and even more complex processes such as automatically liquidating loans when they become undercollateralized – all of which contribute to the decentralization and maintenance of the protocol.
Aave, Synthetix, PoolTogether, Barnbridge, Bancor, and Alchemix – some of the major DeFi applications – are either already making use of or will soon integrate Chainlink Keepers to increase their protocols’ reliability and enable automated processes in an economical way while staying completely decentralized.
Stani Kulechov, co-founder of Aave, highlighted the importance of Chainlink Keepers for safeguarding user assets and maximizing decentralization in the Aave protocol. He commented that Chainlink Network’s oracle system has been beneficial for the Aave protocol, and now users have the opportunity to join in on the Aave ecosystem by utilizing Chainlink’s off-chain service as liquidators to protect both the protocol and its liquidity pools.
Chainlink Keepers utilizes a decentralized system of security-vetted and proven DevOps teams that protect billions of dollars worth of value in the DeFi ecosystem via Chainlink Price Feeds. The nodes are chosen based on a rotating job structure with pre-programmed time-based failover to avoid escalating charges for customers due to competition for jobs. Thus, Chainlink Keepers guarantees high availability, inexpensive costs, decentralized execution, transparent trustworthiness, and scalable computation.
Chainlink is the most widely used and secure way to power universally connected smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
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