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ChainLink (LINK) Proof of Reserve Concept Heating Up Curiosity in Blockchain Community

ChainLink Official Channel have confirmed that Ben Chan, former BitGo CTO & WBTC architect, has joined ChainLink Labs as VP of Engineering. He will enable the engineering team to scale the Chainlink Network’s security.

Benedict Chan expressed that he was excited to join ChainLink.  Further, he stated that building infra for crypto has been their passion. And, that trustless digital agreements were a dream when he began his crypto journey. He added stating that today, scalable and reliable data networks for smart contracts is what he believes will unlock the next phase of growth for DeFi.

Sydney Ifergan, the crypto expert tweeted:  “ChainLink (LINK) Community are eagerly waiting on the development of Proof of Reserve Functionality and the related use case.”

Sergey Nazarov, in the recent past spoke about how Proof of Reserve permits DeFi protocols to have proof about the collateral that they rely on. Encouraging the use of that collateral. It’s on track to secure $1Bn+ in BTC through WrappedBTC and Renprotocol.

Some of the community members have been discussing on whether ChainLink will prove their own reserves. There are others who are curious about when this tech will make it to assets.  They had to state that they are eagerly waiting the progress. In the future everything is set to be decentralized.

There are different versions of queries which ultimately mean, “We need Proof of $LINK over $100, can you do that for us? Thanks.  Hopefully, such queries get answered soon.”

While all that is happening some of them are thinking that price is a mere distraction and that the link will be worth way more than that though.  ChainLink is thrilled to award a research grant to Giulia Fanti of CarnegieMellon who are set to actively collaborate with the Chainlink Labs research team on fair transaction ordering and scalable networking improvements to further scaling Chainlink.

When there was a discussion in the community about improving research one of them stated, gather all the researchers, pay them modest amounts, make them feel appreciated, and wish them good luck.

ChainLink (LINK) Integrations

Also, Everipedia, a Leading blockchain-based encyclopedia are running their own ChainLink node to provide access to signed @AP data on-chain, enabling developers to build new smart contracts around verifiable US election results.

ChainLink stated that recently they have launched six new decentralized price feeds live on mainnet for Synthetix_io including XMR/USD to support Monero-based DeFi markets. They are open to leverage existing price feeds or launch new ones in a matter of days using Chainlink.

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