Chainlink Staking Goes Live, Heralding New Era for Smart Oracle Network

Chainlink Staking Era Begins

LINK stakers, take your positions! The dominant smart oracle platform in crypto has officially launched Chainlink Staking v0.1 amid much hype and anticipation.

In a press release shared with BSC News, the company described the staking program as a “new cryptoeconomic security mechanism” where the staked $LINK backs performance guarantees around oracle services, saying the launch of Staking v0.1 is a major milestone in Chainlink Economics 2.0, aimed at increasing security and enabling sustainable growth.

“The Chainlink Network has successfully scaled to support a significant and growing portion of DeFi and many other new smart contract verticals, enabling more than $6.6 trillion in transaction value this year. Arriving at such a large economy gives the network a great foundation to launch Economics 2.0 and this initial version of Staking,” said Chainlink Co-Founder Sergey Nazarov, according to the press release. “As the network continues to expand, Chainlink Staking will continue to evolve and deliver enhanced security across our ecosystem and throughout Web3.”

The first phase of Chainlink Staking comprises a staking pool to help secure the ETH/USD Data Feed on the Ethereum mainnet. The pool is initially capped at 25 million $LINK (current value of about $180 million), which is about 5% of the token’s circulating supply and 2.5% of the total supply.

The staking pool is now open to node operators who actively serve Chainlink Data Feeds, and also holders who qualified for Early Access. The pool will open for General Access in two days.

Chainlink Staking is intertwined with the platform’s other key Economics 2.0 programs, such as Chainlink BUILD and Chainlink SCALE.

To learn more about how Staking v0.1 works, visit the Chainlink Staking v0.1 launch details blog.

What Is Chainlink:

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.

Where to find Chainlink:‍

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