Babbitt Cloud Summit | Chainlink China Community Director: A good oracle is crucial to the DeFi project

This afternoon, the wind rises again. 2020—Babbitt Global Partners Cloud Summit will hold the seventh forum event with the theme "Crack the DeFi development bottleneck, where is the open financial path?". When asked whether "the oracle machine can avoid DeFi attacks", Chainlink China Community Director Tiao Zige said that smart contracts are data-driven tools, and the operation results are determined by the input data. As a financial smart contract, DeFi relies more on high-quality financial data. The oracle machine is a device that sends data to a smart contract. A DeFi project has perfect code logic, and the input parameters determine the output results. Therefore, a high-quality oracle is crucial to the DeFi project.

He also pointed out that the violent price fluctuations of some time ago caused the Ethereum network to be very congested. Due to Chainlink's decentralized network design and economic incentive mechanism, no asset losses were caused during this period, which is enough to prove that Chainlink is a moat for excellent DeFi projects. Live link: