Ben Chan Joins Chainlink Labs as VP of Engineering
In his new role, Chan leverages his expertise in building secure infrastructure in the cryptosphere
Community members welcomed Chainlink Labs’ decision to bring a professional of this size to the team
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Ben Chan, former BitGo CTO and WBTC Architect, joins Chainlink Labs as VP of Engineering
Chainlink is focused on growth thanks to Ben Chan’s rich experience in cryptocurrency infrastructure. The news, which both Ben Chan himself and Chainlink announced on Twitter, was received with great enthusiasm by the community members..
At BitGo, Ben Chan has been building a scalable and secure multi-signature wallet platform through which over 15% of Bitcoin transactions go through today. He is also one of the founders of the WBTC DAO decentralized fund..
In a recent interview with Chainklink CEO Sergei Nazarov, Ben confessed that he is delighted to be part of the team, highlighting the tremendous work Chainlink has done in the decentralized finance sector (DeFi) Decentralized finance (DeFi) is a blockchain-based financial services offering users access to an open, efficient and … More).
In my opinion, Chainlink is now going through an amazing period and demonstrates strong growth, and even better, it has huge potential for further development, and not only in the DeFi segment..
Chainlink Explained for Beginners! ($LINK Overview and Review 2019)
In his new role at Chainlink, Chan leverages his vast experience in building secure infrastructure in the cryptosphere to develop scalability for the oracle network, which will help reduce the cost of gas for node operators and provide additional growth momentum for the decentralized finance sector..
One of the main solutions that we are working on today is scalability, which will reduce gas commissions by an order of magnitude. We use so-called off-chain navigation, which works by sending one response to the network to update each oracle.
Chen is confident that this will help in scaling the number of oracles with practically no additional costs, and will also help to avoid the growth of operating costs at a time when no one knows how much more fees in networks, including Ethereum, can grow..
Sergey Nazarov said that Chainlink was very lucky to have a specialist of this magnitude join his team. There was a very strong positive reaction to the news from the Chainlink community..
Fireside Chat With Ben Chan and Sergey Nazarov – Scaling the Chainlink Network
Chainlink is a decentralized network of oracles designed to connect off-chain data sources (off-chain) to stand-alone contracts on the blockchain (on-chain).
The company provides real-world data, including cryptocurrency quotes, to blockchain-based applications. Thanks to technology, users exchange assets without the involvement of third parties.
As for the LINK cryptocurrency itself, its price has recently reacted poorly to the news of the project and the market as a whole, oscillating around the $ 10 mark over the past two weeks. After falling from the $ 20 high, LINK is trying to enter the recovery phase, having retracted from the $ 7.50 low.
As a reminder, Chainlink recently launched six new decentralized streams of real-time quotes on the mainnet based on the Synthex derivatives liquidity protocol.
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