Framework Launches its Official Chainlink Node Live on Mainnet
We are proud to announce that Framework Labs, a fintech studio focused on the rapidly emerging Decentralized Finance (DeFi) industry, is now operating our own Chainlink node live on mainnet. As a Chainlink node, we will be supplying data to Chainlink’s large collection of Price Reference Data Feeds, which collectively secure over $4B for leading DeFi applications, including many in our portfolio such as Aave, Synthetix, YFI, and more. Additionally, we will be providing data to Chainlink’s recently announced Proof of Reserve data feeds, giving smart contracts up-to-date collateralization data on the $1.5B of Wrapped Bitcoin bridged to the Ethereum network, including both WBTC and renBTC.
As one of the earliest supporters of Chainlink, we are excited to expand our contribution to the ecosystem by operating the core infrastructure that powers a significant portion of the growing DeFi economy. Over time, we will continue to grow in our support for the Chainlink Network by supplying smart contracts with access to exclusive authenticated APIs and origin-signed data beyond just price feeds, further increasing Chainlink’s ability to support additional markets and secure higher value smart contracts.
Decentralizing the Chainlink Network
It is our belief that blockchain technology enables permissionless innovation that will fundamentally reshape consumer and enterprise web business models. However, the vast majority of real world use cases for blockchains and smart contracts requires secure and reliable access to high quality off-chain data through the use of a blockchain oracle.
We recognized the importance of oracles back in 2017 and have been supporting the Chainlink ecosystem ever since. Over time it became even more clear to us after working alongside many projects in the DeFi and wider smart contract ecosystem that oracles are just as fundamental to the smart contracts stack as the blockchain, and Chainlink is becoming the standard oracle solution utilized throughout the market.
Launching our own Chainlink node not only further decentralizes the security of the Chainlink Network, but it allows us to monetize the premium API infrastructure that we have access to. In doing so, we are now able to provide countless smart contract developers with the unique datasets they require in order to build out more advanced use cases, as well as build up our on-chain reputation as a reliable oracle provider in the Chainlink ecosystem.
Some of the key features uniquely available on the Chainlink Network include:
- Data Signing — Chainlink nodes cryptographically sign every piece of data transferred between systems, providing definitive on-chain proof that data came straight from our node.
- Sell to Any Blockchain — Chainlink nodes are inherently blockchain-agnostic and thus can be integrated natively into any blockchain, creating a single gateway from which we can sell to all blockchains that exist both now and in the future.
- Large Market of Users — Chainlink is the most widely used oracle solution in the blockchain ecosystem with adoption from many leading DeFi players, ensuring us access to a large market of potential users.
- Proven Security — Chainlink is thoroughly audited open-source software that collectively secures billions of dollars in value for live applications through its decentralized oracle networks, proving its ability to protect and trigger the movement of real economic value.
“As oracles begin to pull data, parse information, store credentials and perform off-chain calculations on behalf of smart contracts, the boundaries between classically-defined smart contracts and the oracles that feed them will dissolve. In turn, the industry will shift its focus from base layer chains to the middleware services that provide security for data feeds, payment outputs, off-chain computation and developer experience,” said Framework Labs Co-Founder, Vance Spencer.
About Framework Labs
Framework Labs is a full stack partner to the next decentralized protocols reinventing finance. With a team of researchers, traders, and engineers, Frameworks Labs governs DeFi blockchain protocols, provides liquidity to non-custodial decentralized exchanges, incubates promising startups, and builds consumer-facing applications on top of protocols backed by Framework Ventures.
Chainlink is the most widely used and secure way to power universal 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 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.