Blockchain News

Chainlink Weekly Roundup: Truflation, Crabada and Sam Bankman-Fried

Chainlink gets ready to host thousands of the world’s best devs, innovators, and entrepreneurs offline while continuing to expand online.

On Multiple Fronts

As more industry luminaries get confirmed for the third edition of Chainlink’s SmartCon, the oracle network expands across more Web3 protocols and helps measure real inflation.

In this week’s roundup:

Sam Joins Eric, Balaji and Sergey

SmartCon takes place in September in New York City and shapes to be a keystone event for the blockchain industry.

“Looking forward to sitting down with a few community members at SmartCon 2022 to discuss Chainlink, the future of smart contracts, or just deeper philosophical questions about life. Excited to see all of you in person, there will be a lot of great events and speakers throughout,” tweeted Sergey Nazarov, Co-Founder of Chainlink.
Source: Chainlink

The conference will feature leaders, builders, and contributors at the front lines of Web3 innovation. Some of the attendees include:

Real Inflation Higher Than Official Figures?

Truflation released an independent U.K. inflation index powered by the Chainlink data-oracle network. 

The data aggregator released the U.S. inflation index in December and is now adding U.K. inflation data to the app. The Truflation YoY index places U.K. inflation at 13.72% – almost 50% more than the official figure reported by the U.K.’s Office for National Statistics of 9.4%.

The integration was revealed to BSC News by the Chainlink team via press release.

“Current inflation measurements around the world are using methodologies that are over a century old. So how can we make informed and timely decisions using metrics that pre-date WWI; before the internet, mobile phones, social media, or data analytics?” asks Stefan Rust, Founder and CEO of Truflation.

Since 2021, many parts of the world have suffered from unusually high inflation. To confront this growing phenomenon, the industry needs access to more robust data. 

While official CPIs calculate inflation using customer and merchant surveys, the app gathers real-time sales information from merchants, combining ~6 million prices to calculate actual consumer inflation. 

Each metric can now be incorporated through Chainlink into smart contract applications across Ethereum, Avalanche, Fantom and BNB Chain.

Seamless and Tamper-Proof Draws

Crabada, a PlayandEarn idle game on Avalanche, integrated Chainlink Verifiable Random Function (VRF) and Chainlink Keepers to help secure and automate the Daily Lucky Draws.

“We integrated Chainlink VRF and Chainlink Keepers into our Lucky Draw smart contracts to help select winners using a provably fair RNG and help automate critical functions in a highly secure manner. The integration process for Chainlink VRF and Keepers was seamless — we’d highly recommend any GameFi project to take advantage of Chainlink’s industry-leading services,” said OxTender, co-founder of Crabada.
  • Chainlink VRF is a popular random number generator (RNG) solution that helps select winners in a verifiably random and provably fair manner. This means no one can tamper with the process or predict the draw results.
  • Chainlink Keepers is a secure and decentralized contract automation service that helps make these draws as seamless as possible.

Check out BSC News' weekly roundup to keep up with the latest regarding the smart contract powerhouse.

Last four editions:

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:

Website | Twitter | Docs | Community

What Is Truflation:

Truflation is an economic data aggregator serving independent, unbiased, real-time data on-chain and off-chain. Truflation aims to help individuals, investors, companies, and institutions make more informed decisions by accessing independent and impartial economic information. 

Where to find Truflation:

Website | Twitter

What Is Crabada:

Crabada is an exciting play-and-earn idle game based in a world filled with fierce fighting Hermit-Crabs called Crabada (the NFTs). Players will rediscover the prosperous ancient kingdom of Crabada and earn rewards through activities such as mining, looting, breeding, battling, exploring, crafting, and more!

Where to find Crabada:

Website | Twitter

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