Chainlink

Location:

United States

Genres:

Networks:

Description:

This audiobook is narrated by a digital voice. In the early days of blockchain technology, enthusiasts and developers were captivated by the promise of smart contracts that could execute automatically without human intervention, creating truly decentralized applications that operated independently of traditional institutions. However, as developers began building increasingly sophisticated applications, they encountered a fundamental limitation that threatened to constrain the entire ecosystem: smart contracts, despite their power and autonomy, were essentially isolated from the real world, unable to access the external data they needed to function effectively. This limitation became known as the "oracle problem," a challenge that struck at the heart of blockchain's potential. While smart contracts could process information and execute transactions based on predetermined conditions, they could only work with data that already existed on the blockchain. Real-world applications, however, required access to external information such as market prices, weather data, sports scores, election results, and countless other types of information that existed outside the blockchain ecosystem. Without reliable access to this external data, smart contracts would remain limited to simple internal operations, preventing them from realizing their full potential as programmable agreements that could replace traditional contracts and automate complex business processes. Duration - 46m. Author - Dave Geraldson. Narrator - Digital Voice Matt G. Published Date - Thursday, 23 January 2025. Copyright - © 2025 Dave Geraldson ©.

Language:

English