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      ChainLink(LINK) IR Report (2021)

      https://s1.coincarp.com/logo/1/chainlink.png?style=36's logo ChainLink(LINK)
      $14.42
      1.91%
      Other

      Timeline Type

      ANNUAL

      Date of Announcement

      2021-12-31

      Report Type

      PERIODIC_REPORT

      Key Information

      On December 31st, 2021, Chainlink announced its annual report for 2021. According to the announcement, 2021 has been a year of exponential growth for the Chainlink ecosystem, featuring the accelerating adoption of key services that expand the capabilities of hybrid smart contracts across the blockchain economy. Some of the major achievements covered in the report include:

      1. Chainlink Surpassed $75B Total Value Secured (TVS)

      Throughout the year, Chainlink oracles secured over $75B in value, showing an increase in TVS from the beginning of 2021 (a total of $7B across the blockchain ecosystem). This growth in TVS has been led by not only the proven security and reliability of Chainlink oracle networks but also the diversity of data being made available and consumed by on-chain applications to secure user funds.

      2. Chainlink Ecosystem Grew to 1000+ Projects

      Chainlink oracles are now powering a greater number of hybrid smart contract applications than ever before. In total, 1,000+ projects are now part of the Chainlink ecosystem, with more than half of all integrations taking place in 2021.

      3. Chainlink Serviced 2.5M+ Requests for Secure Off-Chain Computation

      Decentralized Oracle Networks (DONs) not only deliver data but also provide access to secure off-chain computation, further extending and enhancing the capabilities of smart contract applications.

      To further expand support for off-chain computation, Chainlink released Chainlink Keepers, a decentralized transaction automation solution that provides developers with DevOp tasks in a highly reliable and cost-efficient manner.

      Chainlink Price Feeds also upgraded to the Off-Chain Reporting (OCR) protocol, enabling oracle nodes to aggregate real-world data off-chain and deliver the validated oracle report on-chain within a single transaction. The costs of on-chain Price Feed updates were reduced by up to 90%, enabling 10 times more real-world data to be delivered on-chain. This upgrade also further developed the decentralization of Chainlink Price Feeds, increasing the tamper-resistance and reliability of on-chain updates.

      4. Chainlink Integrations Across Blockchains and Layer 2s Propelled the Multi-Chain Ecosystem

      Supported by the Chainlink Community Grant Program, the Chainlink Network was able to expand support for additional blockchain environments. In 2021, Chainlink services launched a number of layer-1 blockchains and layer-2 solutions including Arbitrum, Avalanche, Binance Smart Chain, Ethereum, Fantom, Harmont, Heco, Moonriver, Optimism, Polygon, Starkware, and xDai. The deployment of Chainlink services onto a new blockchain environment provides developers in that on-chain ecosystem with the key infrastructure they require to launch into production. Furthermore, the integration of Chainlink oracles led to a growth in the number of DeFi applications within each on-chain ecosystem.

      5. Open-Source Developers Leveraged Chainlink to Compose Innovative Smart Contract Use Cases

      Throughout the year, Chainlink hosted events that provided developers the opportunity to build smart contract applications with a community of builders, creators, artists, and mentors. Some of these events included:

      • Spring 2021 Chainlink Hackathon
      • Smart Contract Summit #1
      • Fall 2021 Chainlink Hackathon

      For more details about "The Year in Chainlink 2021," please check here.


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