Chainlink, the industry-standard Web3 services platform, announced today that Chainlink Automation 2.0 and Chainlink Functions (Beta) are now available on the mainnet, enabling sophisticated offchain computing and data communication across numerous blockchain ecosystems. The new Chainlink Automation version allows developers to transfer any smart contract computation offchain in a verifiable and ultra-reliable manner, letting them to automate even the most complex Web3 use cases while saving up to 90% on petrol costs. Simultaneously, Functions enables smart contracts to use any real-world API in a serverless fashion. Developers may now use any public or restricted API data, AI models, cloud services, or legacy systems to create totally new types of Web3-enabled applications and experiences.
Chainlink, the industry-standard Web3 services platform, announced today that Chainlink Automation 2.0 and Chainlink Functions (Beta) are now available on the mainnet, enabling sophisticated offchain computing and data communication across numerous blockchain ecosystems. The new Chainlink Automation version allows developers to transfer any smart contract computation offchain in a verifiable and ultra-reliable manner, letting them to automate even the most complex Web3 use cases while saving up to 90% on petrol costs. Simultaneously, Functions enables smart contracts to use any real-world API in a serverless fashion. Developers may now use any public or restricted API data, AI models, cloud services, or legacy systems to create totally new types of Web3-enabled applications and experiences.
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“Bringing the next hundred million users onchain requires a seamless developer experience that enables developers to create advanced applications that have the highest standards for security and verifiability,” said Sergey Nazarov, co-founder of Chainlink. “This is why we’re excited to expand the capabilities of the Chainlink platform with Functions and Automation 2.0 to unlock advanced offchain computation use cases underpinned by the proven security of Chainlink.”
Chainlink Functions has received great interest from the developer community since the debut of the testnet in March 2023, with 2,800+ builders signing up to build with serverless compute and unrivalled data connectivity, unlocking many unique use cases. It is now easier than ever to create new apps with Functions. Developers can use an NPM package to easily establish, pay, and manage their subscriptions, or they can monitor, deploy, and interact with all of their functions using an easy-to-use UI.Developers can also specify the execution time, number of requests, payload size, and other characteristics, as well as who can call their function. Developers can use this to gate contract initiation and allow any EOA to initiate the Functions request. Functions additionally employs a threshold encryption approach to improve the security of API secrets in a decentralised manner.
“Space and Time has natively integrated with Chainlink Functions to allow our users to send zk-proven query results onchain,” stated Scott Dykstra, Space and Time’s CTO and Co-Founder. “With the integration, smart contracts can use the Space and Time data warehouse to ask data-driven questions without using more gas onchain.” Space and Time and Chainlink are bridging the gap between onchain and offchain platforms, enabling new use cases for DeFi, Web3 gaming, dApp developers, and enterprise blockchain usage.”
“Chainlink Functions and subgraphs on The Graph Network make it easy to access traditionally offchain data with blockchain-native methods,” stated Kyle Rojas, The Graph’s Director of Global Business Development. “Now, smart contract developers can leverage the data integrity guarantees of both Chainlink Functions and The Graph’s decentralised network, unlocking new, advanced decentralised use cases.”
Pratima Arora, Chief Technology Officer at Chainalysis, said, “We are excited about the potential of Chainlink Functions connecting Chainalysis’s APIs to smart contracts at the protocol level, making it easier for the Web3 developer community to protect their dApps using Chainalysis data and unlock new innovative use cases.”
The industry standard for smart contract automation is Chainlink Automation, which offers enterprise-grade dependability and performance across a virtually limitless number of trigger possibilities.
Prior to Automation 2.0, developers would simulate conditional functions offchain and revalidate them onchain when the criteria were satisfied for maximum security. This was efficient yet complicated and pricey. Now, developers can easily access secure, dependable, and verifiable offchain compute with the greatest level of cryptographic assurances by utilising Chainlink Automation’s cutting-edge consensus mechanism. Specifically, to improve performance and save onchain costs, developers can transfer work to Chainlink Automation.
Expanded trigger options provided by Automation 2.0 provide up additional channels for integrating other dApps. As an effective messaging bus akin to the pub/sub messaging bus used to connect Web2 microservices, Automation now makes it possible for smart contracts to respond to log events released onchain.
Getty Hill, co-founder of GFX Labs, stated: “We have used Chainlink Automation to run basic onchain liquidators for Interest Protocol, to implement trustless onchain limit orders for Uniswap v3 in Oku, and we have more applications in the works.” “The Chainlink Automation 2.0 network is the most dependable and decentralised platform, safeguarding and securing the value inherent in interactions of Oku and Interest Protocol users, ensuring that their execution is both timely and secure.”
According to Josh Kessler, Head of Growth at Sommelier.Finance, “Sommelier is using Chainlink Automation 2.0’s secure offchain computation to drastically reduce user vault deposit/withdraw costs by shifting the gas burden to offchain calculations.”
As with other tried-and-true Chainlink services, Automation 2.0 and Functions are supported by the same industry-standard infrastructure. This infrastructure makes use of a pool of seasoned, dependable node operators who have collectively enabled $8.5T+ in transaction value and upheld unmatched uptime levels, even during record levels of network congestion and market volatility. With the help of the Chainlink Functions Playground, developers can now create and test functions online. Explore the developer documentation for Automation and Functions to get started building right away.
Chainlink announced the upcoming release of VRF 2.5, the most recent version of its Verifiable Random Function (VRF), which is the most used random number generator (RNG) on Web3 with 17 million transactions completed. This is in addition to the mainnet rollout of Chainlink Functions and improvements to Chainlink Automation. Native gas token billing and a significant UX improvement for upgrading to future VRF versions are two significant updates in VRF 2.5.
Together, the Chainlink platform’s innovative set of compute services and the network’s well-established track record of security and dependability enable developers to realise a wide range of sophisticated offchain computation-dependent next-generation Web3 use cases.