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Chainlink (LINK) Now has a Feature that Automates the Smart Contract Execution
Published11 months ago
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Table Of Contents
Chainlink, the crypto industry’s leading decentralized oracle network, has seen rapid growth in terms of adoption, capability of its features, and the project continues to also introduce new features, tools, and functionalities. So, not only is it the best in delivering real-world data to the blockchain, but it also continues to offer new things that other projects are more than interested in having integrated.
The project already powers over 1,000 unique decentralized oracle networks, and these networks are serving as the backbone of Web3. They bring new data to the blockchain and can offer secure off-chain computation, to unlock the next generation of smart contracts. However, Chainlink is always interested in launching new and interesting features, and its Keepers Job Scheduler is the latest example of this.
According to its recent announcement, Keepers Job Scheduler can be used to automate the execution of smart contract functions in seconds, and all that through the use of a simple no-code UI. Using it is meant to save time for developers, and further decentralize any protocol that adopts this technology by removing the need to use centralized scripts.
How does it work?
According to Chainlink’s documentation, using the Job Scheduler is fairly simple. Users need to start by registering new upkeep on the Keepers network, and then they need to connect their wallet to the Keepers network as well. Next, they will have to select a trigger mechanism for automation. This trigger will specify what Keeper Nodes should look at to determine whether or not the Upkeep should be performed.
Clients can use a Time-based trigger or a custom logic trigger. Depending on which one they choose, users will have to fill in additional details of how the function should be triggered, although none of it is overly complex.
What are Chainlink Keepers?
Chainlink Keepers basically act as a decentralized and highly reliable smart contract automation service. By using them, users can get to market faster, save gas fees, and reach other benefits that would otherwise cost time and money.
The Keepers service has seen a lot of popularity since its launch, and Chainlink has already started integrating it across its network of clients. The latest example of this is the Keepers’ integration with PancakeSwap — Binance’s leading decentralized crypto exchange. Chainlink noted that the integration with the BNB Chain will help securely automate its CAKE/USD prediction market.
It also added that Keepers use off-chain computation, which helps to open, close, and settles prediction rounds at 5-minute intervals in a decentralized manner. In other words, Chainlink is a lot more than just an oracle network now, as it provides some crucial functionalities in addition to its oracles. All of its products have a goal to help further the decentralization aspect of the crypto industry and help bring forth Web3.
To learn more visit our Investing in Chainlink guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.