Kytzu Becomes a Chainlink Node Operator Live on Mainnet
We are excited to announce that Kytzu Validator has joined the Chainlink Network as new a Chainlink Node Operator. We are now live on mainnet pricing price data to DeFi applications as part of Chainlink’s popular Price Reference Data oracle networks. We bring extensive experience as a validator that secures millions of dollars in value for several proof of stake networks including Cosmos HUB, IRIS Network, Kava, and Solana.
Chainlink is the market-leading oracle network that uses decentralized node infrastructure and high-quality data sources to ensure smart contracts on any blockchain can get accurate data in a highly available and tamper-resistant manner. It’s the most used oracle in DeFi, currently securing over $3B in value for a variety of leading applications like Aave, Synthetix, Bancor, and more. It’s generalized framework is also being expanded to support various other use cases like blockchain gaming via its Verifiable Random Function, insurance through projects like Arbol, and much more.
We bring significant expertise to Chainlink, with over 20 years of cumulative experience in both DevOps and Software Development. This experience allows us to write our own monitoring tools and mobile wallets, which contributed to our win in the Cosmos Game of Stakes competition in 2018. We are also cat lovers, as can be seen in our logo 🐱.
Joining Chainlink’s Decentralized Oracle Mission
One of the overarching value propositions of blockchain technology is its ability to create definitive truth through decentralized network consensus. Blockchains create definitive truth about asset ownership, while smart contracts create definitive truth about contract state. While this has seeded initial value in the crypto space such as the proliferation of tokens and on-chain DEXs, smart contracts become exponentially more powerful when they can get definitive truth about events happening in the real world outside the blockchain (off-chain). Doing so requires the introduction of an additional piece of infrastructure known as an oracle.
Chainlink is a decentralized oracle network that connects smart contracts to off-chain resources in a highly secure and reliable manner in order to preserve the qualities of availability and tamperproofness inherent to blockchains. This allows smart contracts to connect with off-chain data providers, web APIs, enterprise systems, payment gateways, other blockchains, IoT networks, and more.
Chainlink’s most popular product is its Price Reference Data — price feeds that are secured by a decentralized network of independent node operators, which each fetch the current price from off-chain data aggregators. The nodes’ responses are then aggregated to create a single price update, which a dApp can leverage as a reference price to issue a loan, check a loan’s collateralization, settle a future’s contract, and more.
<Chainlink’s ETH/USD Price Reference Data feed is secure by 21 Nodes and used by over 20 projects>
As a Chainlink Node Operator, Kytzu will be responsible for providing 24/7 service uptime, maintaining redundant infrastructure with automated failover capabilities, implementing and serving a large set of external adapters, maintaining our own Ethereum nodes, and constantly serving accurate oracle data to customers through connection to various off-chain APIs.
Kytzu Validator’s Founder Calin Chitu expressed his excitement about joining the Chainlink Network, stating “Joining Chainlink’s decentralized oracle network as a new node operator allows us to take part in provisioning a larger smart contract economy by expanding the amount of off-chain resources smart contract developers have access to on-chain. We’re excited to support the market-leading oracle network, opening up a plethora of new applications in DeFi, Insurance, Gaming, and more.”
If you want to run a Chainlink Node or get connected to existing nodes, visit the developer documentation and join the technical discussion on Discord. Learn more by visiting the Chainlink website or follow them on Twitter or Reddit.
About Kytzu Validator
Web Site: https://kytzu.com/