Former RSA chief scientist and cryptography academic Ari Juels and the team behind blockchain middleware provider SmartContract have release a whitepaper describing a new way to securely connect smart contracts and real world data, APIs and traditional bank payments.
“ChainLink: A decentralized Oracle network” was written by Prof. Juels, Steve Ellis and Sergey Nazarov. A professor in the Faculty of Computer Science at Cornell University’s Jacobs Institute, Prof. Juels is noted for his work of proof of retrievability, a key concept behind decentralized systems such as Filecoin and Storj.
ChainLink’s crowdsale begins at 15:00 UTC on Tues., Sept. 19. It will will adhere to a strict whitelisting process that will allow the larger blockchain community to participate.
The LINK tokens can be deployed within the ChainLink network, which lets smart contracts safely access off-chain resources needed for participation in agreements in the finance, insurance and trade finance industries. Developers can pay node operators for their contributions.
Evan Cheng added as technical advisor
ChainLink has named Facebook’s director of engineering as an active technical advisor. Mr. Cheng created LLVM, which is used by Apple iOS and Mac devices to run their secure lower level machine code. It also affects how secure lower level machine code is run by Google, Intel, AMD, and Nvidia.
“We’re lucky to be working with a technical visionary like Evan,” Mr. Nazarov said. “His contribution to how low level machine code is able to securely run many of the services we all use today, makes him a valuable authority about how to make decentralized infrastructure that is also highly secure.”