Solving the Oracle Problem: Blockchain’s Missing Link | Sergey Nazarov

Apr 5, 2021

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In Episode 186 of Hidden Forces, Demetri Kofinas speaks with Sergey Nazarov, Co-founder of Chainlink, the leading decentralized oracle network used by global enterprises and projects at the forefront of the blockchain space, which enables smart contracts on any distributed ledger to reliably connect to real-world data, securing billions of dollars in value across decentralized finance, insurance, gaming, and other industries.

Chainlink and other decentralized oracles are not blockchains. They are not, in other words, monolithic networks of distributed databases that all operate in unison. Instead, they consist of a potentially infinite subset of networks that support blockchains and operate in parallel to them and to each other by relying on a common framework that is highly customizable and adaptable to the unique needs of their users, who consist of decentralized applications, data providers, enterprises, etc.

The purpose of today’s conversation is to help educate you on not only what Chainlink is and its value proposition, but also to help you understand how this industry is evolving, the design choices that are being made at the heart of these critical networks, and the opportunities that have presented and will continue to present themselves to anyone interested in capitalizing on the disruptive efficiencies and novel sets of use cases created by these systems.

In the subscriber overtime, Sergey and Demetri delve deeper into Chainlink’s architecture, how smart contracts interface with oracle networks, how such networks come together to service their users, how they come to consensus about events in the real world, and much, much more. Sergey also shares his views on Internet culture, ontology & epistemology, futurism, and how governance is going to work in a world where more and more of our lives, relationships, and experiences are happening online.

You can access the episode overtime, as well as the transcript and rundown to this week’s episode through the Hidden Forces Patreon Page. All subscribers gain access to our overtime feed, which can be easily added to your favorite podcast application.

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Producer & Host: Demetri Kofinas

Editor & Engineer: Stylianos Nicolaou

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Episode Recorded on 04/01/2021