/biz/ - Business & Finance

>>27393618
>So right now, Chainlink provides the majority of defi’s price data. And price data is very important because it allows those smart contracts to trigger, to react to market events which is fundamentally what they do. But that is really the tip of the iceberg. That’s really the beginning of what chainlink does as a general purpose, trust minimized form of off chain computation. So price data is one set of data, then there is weather data for insurance, there’s randomness for gaming, there’s sports scores for prediction markets, all those are different pieces of data. And we have already begun putting those various pieces of data on chain, and as we put new pieces of data on chain, we see insurance products like Arbol, we see prediction markets for election results, we see all kinds of things around sporting events, and really the flow of data correlates to the creation of these new smart contracts and various gaming and defi and other verticals like insurance.