The post Staking and Self-Service as Key Drivers for LINK appeared on BitcoinEthereumNews.com.

Chainlink is advancing, but top developers hint at ways it can improve. For Chainlink to transition into a full protocol, it needs self-service and staking to conform to existing rules. Leading decentralized Oracle platform Chainlink (LINK) is constantly undergoing ecosystem development to revolutionize the network. A crypto community member with the username @ari_kiry on X has highlighted self-service and staking as key drivers to Chainlink’s evolution. Chainlink’s Transition Journey Into A Protocol @ari_kiry spotlighted a video presentation from Stakedotlink Founder Jonny Huxtable, in which he discussed the possibilities of using self-service to drive evolution in Chainlink. This function highlights how Web3 developers deploy smart contracts in EVM and non-EVM-based chains.  Self-service is the game changer that will evolve #Chainlink from being just a suite of products into a fully-fledged protocol. As @HuxtableJonny explains, staking is the key to making this shift possible This topic has been heavily discussed recently, so here’s a breakdown 👇🧵 pic.twitter.com/9WSubuLigf — Ari DTCCIPed (@ari_kiry) October 16, 2024 In the presentation, Huxtable claims self-service is the key to transforming Chainlink from a suite of products into a complete protocol. The innovator also added that staking is essential to enabling this change. Web3 developers can easily deploy smart contracts on any chain with self-service. However, users still encounter barriers when creating Chainlink Decentralized Oracle Networks (DONs) and data feeds. @ari_kiry envisions staking v1 as the catalyst for lowering that barrier. According to the presentation, staking will allow developers, protocols, and users to easily self-serve by creating their DONs. It will also assist them in launching new data feeds and building apps on top of Chainlink’s core services like CCIP, VRF, and others. The developer emphasized that users will start seeing real change in transparency and incentives once staking goes live. In particular, they can see on-chain how…

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Filed under: News - @ October 18, 2024 1:18 am