A brief history of Chainlink
Chainlink was created in 2014 by 32-year-old entrepreneur, Sergey Nazarov, who is a major player in the cryptocurrency market.4
The Chainlink network was initially designed as a centralised oracle system with the purpose of verifying incoming data. But Chainlink later transformed into a decentralised oracle network that can link with smart contracts to ensure secure transactions using outside data sources and APIs.3
In September 2017, the Chainlink protocol was produced and in May 2019 it was launched providing a solution to oracle network’s inherent inability to connect blockchains with outside data sources that exist off-chain.6
The Chainlink 2.0 whitepaper was released in April 2021, providing more insight on the capabilities of the ‘Decentralized Oracle Networks’ (DONs).7 The paper also explained the evolution of the Chainlink network in providing tamper-proof data delivery and secure off-chain computation.7
