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Chainlink 2.0 and the future of Decentralized Oracle Networks

This whitepaper expands the role of Decentralized Oracle Networks (DONs) in the blockchain ecosystem, laying out the key advancements for the Chainlink Network to power a suite of decentralized services for smart contracts on any blockchain.

Technical advancements

To empower a broad range of next-generation smart contract applications and use cases, Chainlink 2.0 focuses on oracle technology advances in seven key areas.

Hybrid smart contracts

Augment the capabilities of smart contracts by securely composing on-chain and off-chain computing resources into hybrid smart contracts.

Scaling

Ensure decentralized oracle networks achieve the latencies and throughputs required by high-performance blockchains, layer-2 solutions, and Web2 systems.

Abstracting away complexity

Present developers and users with simple functionality that eliminates the need for familiarity with complex underlying protocols and system boundaries.

Confidentiality

Catalyze high integrity systems that combine blockchains’ innate transparency with strong confidentiality protections for sensitive data and computations.

Order fairness

Support transaction sequencing in ways that are fair for end users and prevent front-running and other forms of value extraction by bots and exploitive miners.

Trust-minimization

Create a trustworthy layer of support for smart contracts and other oracle-dependent systems by means of decentralization, cryptographic guarantees, and guardrails.

Cryptoeconomic security

Ensure nodes in decentralized oracle networks have strong economic incentives to behave reliably and correctly, even in the face of well-resourced adversaries.

Chainlink decentralized services

Chainlink’s decentralized metalayer of oracle networks allows smart contracts to seamlessly use and create an array of decentralized services that accelerate dApp development, enable cross-chain functionality, and harmonize disparate technologies.

Chainlink’s decentralized metalayer of oracle networks allows smart contracts to seamlessly use and create an array of new decentralized services that accelerate dApp development, enable cross-chain functionality, and harmonize disparate technologies.

Chainlink 2.0 whitepaper

Chainlink 2.0 whitepaper research panel

Contributing authors Ari Juels, Lorenz Breidenbach, Andrew Miller, and Sergey Nazarov dive into the technical advancements of the whitepaper and discuss Chainlink’s overarching vision for the future of decentralized oracle networks.

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The Smart Contract Research Forum is an intellectual commons for academic researchers, software engineers, and industry leaders to collaboratively define, design, and advance smart contract technology.

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