Chainlink: Crypto ‘Keepers’ | Anti-Fraud Blockchain Bridges

Chainlink Sheds Light on Crypto ‘Keepers’ Alongside Anti-Fraud Blockchain Bridges

Chainlink plans to broaden its operations to incorporate off-chain computation. Typically, this task is carried out by a network of node operators referred to as “Chainlink Keepers”.

 

The platform has come a long way since it was first established back in 2014. In fact, it’s become the market leader when it comes to provision of data feeds to smart contracts that are based on blockchain.

Chainlink Labs, on its part, is planning to set up cross-blockchain bridges, which include an element that monitors anti-fraud risk.

During SmartCon, the event that Chainlink holds every year, Keepers was described as a sort of service layer, which notifies smart contracts just how and when to conduct themselves.

The system is already live on Ethereum and other networks intend to adopt it as well, such as Barnbridge, Synthetic, Aave, PoolTogether, Alchemix and Bancor.

The advancement of decentralized finance (DeFi) represents a cross-breed of on-chain logic, which occurs in the form of smart contracts and actual data that resides outside the blockchain.

Chainlink provides an avenue through which inputs are piped into blockchains through disseminated oracle networks. They are then managed by a committee of Chainlink nodes.

Going by what is highlighted in the Chainlink 2.0 white paper, the next phase involves the computation and data inputs using the same disseminated network.

Furthermore, Chainlink Keepers will be chosen from the network’s current assortment of reliable node operators. The profit gained will then be used to offer computing services at any cost scenario.

Moving forward, the network will include a number of enterprise-grade keepers, such as  Deutsche Telekom’s T-Systems.

Meanwhile, the Chainlink team has been working on a different project in the past two years or so. The system is called Cross-Chain Interoperability Protocol (CCIP).

Now, the network intends to add a Programmable Token Bridge in addition to the CCIP.

The bridge will come in handy when you’re sending tokens and computing commands to any blockchain network. This essentially paves way for more sophisticated cross-chain programs.

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