I have been reading up on ChainLink lately, a project that is trying to create a decentralized oracles network that can be used to connect external data to blockchains (first just Ethereum but later others as well). I think this is a really interesting application, as it would mean using an orale doesn’t mean it’s a single point of failure any more. However, I’m not an engineer and am not able to fully grasp the technical aspects of the project and its potential vulnerabilities, and since the team doesn’t do any marketing at all (which I actually quite like) there’s not much information about it available (yet) that is understandable for non-engineers.
This really made me wonder if IOHK and Cardano have thought about this ‘oracle problem’ as well and if they maybe already have potential solutions for it, or maybe if they even see using a network like ChainLink could be beneficial for Cardano. Or will the new programming languages that are being designed for Cardano enable new opportunities for oracle-like functions that aren’t available on other blockchains, making a network like ChainLink obsolete from Cardano’s standpoint? Would love to learn more about this, thanks in advance!