Chainlink, the industry-standard Web3 services platform, announced that Chainlink Automation 2.0 and Chainlink Functions (Beta) are now live on mainnet, unlocking advanced offchain computation and data connectivity capabilities across multiple blockchain ecosystems. The new version of Chainlink Automation lets developers offload any smart contract computation offchain in a verifiable and ultra-reliable manner, allowing them to automate even the most intricate Web3 use cases, saving up to 90% in gas costs. At the same time, Functions allows smart contracts to access any real-world API in a serverless manner. Developers can now access any public or access-controlled API data, AI models, cloud services, and legacy systems to build entirely new types of Web3-enabled applications and experiences.
Chainlink Automation 2.0 and Functions represent a paradigm shift in Web3 app development involving offchain computation and real-world data connectivity powered by Chainlink decentralized oracle networks (DONs). Both Chainlink Automation and Functions enable developers to access advanced offchain computation while maintaining the trust minimization and cryptographic guarantees of the underlying blockchain. In response to the demands of Web3 developers, the most sought-after features include automating smart contracts, enhancing their computational capabilities while maintaining cost-efficiency, and seamlessly connecting them to any desired API. With these launches, those demands have become a thing of the past.
“Bringing the next hundred million users onchain requires a seamless developer experience that enables developers to create advanced applications that have the highest standards for security and verifiability,” stated Sergey Nazarov, co-founder of Chainlink. “This is why we’re excited to expand the capabilities of the Chainlink platform with Functions and Automation 2.0 to unlock advanced offchain computation use cases underpinned by the proven security of Chainlink.”
Since the launch of testnet in March 2023, Chainlink Functions has seen significant interest from the developer community, with 2,800+ builders signing up to build with serverless compute and unmatched data connectivity that unlocks many novel use cases. With Functions, it is now easier than ever to build new apps. Developers can seamlessly create, fund, and manage their subscriptions using an NPM package or monitor, deploy and interact with all of their functions through an easy-to-use UI. Additionally, developers can now configure execution time, number of requests, payload size, and other parameters, as well as control who can call their function. This enables developers to gate contract initiation and allow any EOA to trigger the Functions request. Functions also leverages a threshold encryption scheme to enhance API secrets’ security in a decentralized manner.
“Space and Time has natively integrated with Chainlink Functions to allow our users to send zk-proven query results onchain,” said Scott Dykstra, CTO & Co-Founder at Space and Time. “The integration enables smart contracts to leverage the Space and Time data warehouse and ask data-driven questions without spending more gas onchain. Space and Time and Chainlink are bridging the gap between onchain and offchain systems to unlock new use cases for DeFi, Web3 gaming, dApp developers, and the enterprise adoption of blockchain technology.”
“Chainlink Functions and subgraphs on The Graph Network make it easy to access traditionally offchain data with blockchain-native methods,” said Kyle Rojas, Director of Global Business Development at The Graph. “Now, smart contract developers can leverage the data integrity guarantees of both Chainlink Functions and The Graph’s decentralized network, unlocking new, advanced decentralized use cases.”
SOURCE: Prnewswire