Podcast Conversation: Chainlink Co-Founder Sergey Nazarov on building the global decentralized oracle network powering DeFi and Web3
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In this conversation, we chat with Sergey Nazarov. Sergey Nazarov is Co-founder of Chainlink, the leading decentralized oracle network used by global enterprises & projects at the forefront of the blockchain space.
Chainlink is the industry standard oracle network for powering hybrid smart contracts. Chainlink Decentralized Oracle Networks provide developers with the largest collection of high-quality data sources and secure off-chain computations to expand the capabilities of smart contracts on any blockchain. Managed by a global, decentralized community, Chainlink currently secures billions of dollars in value for smart contracts across decentralized finance (DeFi), insurance, gaming, and other major industries.
More specifically, we touch on what it means to build in DeFi, what Oracles are like, what smart contracts are and what they enable, how all of this works and where the protocol is going, and so much more!
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…And then the entire industry really shifted to tokens because tokens was the functionality, but I just stuck with that definition. And even if architecturally you look at what defines a smart contract, in the early days, it would probably be one piece of code. So, it'd be one smart contract. And then it expanded to be two smart contracts, the main contract and the multisig. And then it expanded to three contracts, the main contract, the multisig and the dow voting scheme. And then it expanded to those three on chain contracts and an off-chain Oracle network that powered it with events. And now it's actually expanded to multiple Oracle networks. So, we have smart contracts that use the Chainlink networks of which there are hundreds now, going to thousands I think pretty soon. We have smart contracts that actually use multiple Oracle networks for different data. And they use an Oracle network for automation through something called keepers, and they use an Oracle for something like random number generation.
So, you actually started to see a definition now where a smart contract from an architectural point of view is very similar to a web application. If you were to say…