Blockchain News- Chainlink Economics 2.0 is aims to enhance the long-term utility and durability of Oracle services.
- BUILD is a program design to promote ecosystem growth and drive dApp innovation.
The Chainlink Network is entering a new era emphasized by Chainlink Economics 2.0. Which promotes long-term growth, cryptoeconomic security, and value‐added capture. Chainlink Economics 2.0 offers a positive feedback system that enhances the value capture of the Chainlink network. Hence promoting the adoption of decentralized services and the expansion of the web3 ecosystem.
1/ #Chainlink Economics 2.0 consists of programs focused on:
• Increasing user fees paid to Chainlink service providers
• Reducing the on-chain & operating costs of oracle services
• Enabling a broader scope of service providers such as stakers to participate in the ecosystem pic.twitter.com/HXqv1E0LUK— Chainlink (@chainlink) September 28, 2022
Chainlink Economic 2.0 Advancements:
Chainlink Economics 2.0 incorporates a number of concepts aimed at enhancing the long-term utility and durability of Chainlink oracle services. Staking is a new layer of cryptoeconomic security in the network in which ecosystem participants can stake LINK. To assist improve feel safer and user trust of Oracle services.
Following that, the Chainlink BUILD program is a Chainlink labs initiative that seeks to accelerate the growth of preliminary phases and established projects within the ecosystem. By providing enhanced direct exposure to Chainlink services and technical support in exchange for fee and other incentive obligations from service providers such as stakeholders.
The SCALE program will undertake to reduce Oracle’s operational costs in order to boost the expansion of its ecosystem. And support the long-term viability of Chainlink oracle services.
Off-Chain Reporting (OCR) 2.0, blockchain fast lanes, and data feed optimizations that balance the requirement to meet user demand with stronger incentives. To adopt cost-efficient blockchains and layer-2 networks are some of the technical innovations that assist the action plans and enhance the functionality and economic viability of Oracle services.
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Source: https://thenewscrypto.com/chainlink-upgrades-to-enhance-the-web3-ecosystem/