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Jafrin Ahmed
Jun 8, 2022
by Jafrin Ahmed

Chainlink Introduces New Roadmap and Staking Plan

Chainlink staking

Table of contents

  1. Chainlink Unveils New Roadmap
Chainlink has unveiled a new roadmap for the oracle platform by introducing the much-awaited staking mechanism to the blockchain.

Chainlink Unveils New Roadmap

On June 7, Chainlink announced the network’s long-term goals, roadmap, and initial implementation that included the much-awaited LINK staking. Along with staking plans, Chainlink also unveiled long-term goals such as:

  • Increase the crypto-economic security and user assurances of Chainlink Services.

  • Enable community participation in the Chainlink network.

  • Generate sustainable rewards from real long-term use.

  • Empower node operators to access higher-value jobs by staking.

    • Chainlink said that its staking mechanism will continue to evolve over time as its Oracle network continues to expand. The initial goal is to create a simple and secure foundation for staking. Later, it will continue to expand its scope based on the feedback received.

    The rollout of Chainlink’s staking mechanism will be very similar to its Price Feeds functionality. This will allow identifying risks and opportunities at an early stage of implementation before scaling.

    The new roadmap also introduces a new technology called Proof of Reserves (PoR). With PoR, a company’s cryptocurrency holdings can easily be checked through an automated process that improves the transparency of blockchains, smart contracts, and oracles.

    Following the announcement, the price of LINK has immediately turned extremely positive, up 11.3% in the past 24 hours, and is currently trading at around $8.43.

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    Chainlink Introduces New Roadmap and Staking Plan
    Jafrin Ahmed
    Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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