Chainlink, the industry-standard decentralized computing platform, and Arbitrum, the most widely used layer 2 scaling solution suite for Ethereum dApp development, have today announced the mainnet beta release of Chainlink Functions, now live on Arbitrum One mainnet.
Chainlink Functions is a serverless, self-serve developer platform enabling developers to easily connect their smart contracts to any API and trust-minimized computations. Chainlink Functions acts as a decentralized compute runtime that’s useful to test, simulate, and run custom offchain logic for Web3 apps. In many ways, Chainlink Functions acts as a trust-minimized, blockchain-connected version of existing serverless solutions such as AWS Lambda, GCP CloudFunctions, and more.
“As an L2, Arbitrum plays an important role in supporting the overall health and sustainability of the Ethereum ecosystem,” said Johann Eid, Chief Business Officer at Chainlink Labs. “Making Functions available for Arbitrum users is about connecting Web2 and Web3 developers and bridging the gap to allow for shared collaboration, growth, and a shared sense of community.”
Arbitrum One is an optimistic rollup for Ethereum that powers high-throughput, low-cost dApps. Chainlink Functions helps makes it possible to onboard the next million developers to Web3 by providing the missing infrastructure for any developer (Web2 or Web3) to build feature-rich applications that merge the best of both traditional and Web3 development.
“Continually simplifying Web3 to feel more like a native Web2 experience is critical to mass adoption of Arbitrum’s technology,” said A.J. Warner, Chief Strategy Officer at Offchain Labs. “Chainlink Functions will streamline the experience for Arbitrum developers as they can easily connect to Web2 data and experience low-cost computation.”
Also Read: WiMi is Working on the Blockchain Secure Storage Strategy Based on the MCMC Algorithm
Arbitrum developers can now leverage Chainlink Functions within their application on-demand. Developers access the Functions documentation, experiment with the Chainlink Functions Playground, and create a subscription to get started.
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $9 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
The Arbitrum Foundation, founded in March 2023, supports and grows the Arbitrum network and its community with secure scaling solutions for Ethereum. Arbitrum One—a leading Ethereum Layer-2 scaling solution initially developed by Offchain Labs—offers ultra-fast, low-cost transactions with security derived from Ethereum through Optimistic Rollup technology. Launched in August 2021, the Arbitrum One mainnet beta is EVM-compatible to the bytecode level and has 54%+ TVL in the L2 segment. 2000+ DeFi and NFT projects are live in the ecosystem to date. In August 2022, Arbitrum One upgraded to Nitro tech stack, enabling fraud proofs over the core engine of Geth compiled to WASM.
SOURCE: PRNewswire