Chainlink aims at making Ethereum decentralized finance more secure

By September 6, 2019Ethereum
Click here to view original web page at
  • The objective is to authorize full freedom from the fiat system.
  • Chainlink recently unveiled DeFi instruments to promote privacy.

Chainlink recently unveiled a feature called “Mixicles.” According to them, Mixicles is a “new approach to enabling privacy for smart contracts with an initial focus on decentralized finance. Mixicles allow #DeFi smart contracts to achieve a new level of privacy, giving them much wider usability.”

The “decentralized finance (DeFi)” market on Ethereum (ETH) is on the rise over the past few months. However, this market, unfortunately, suffers from a lack of privacy. Users want decentralization as well as privacy.

Currently, the data of transactions and smart contracts can be leaked with the blockchain system. In its recent white paper, Chainlink stated:

“Smart contracts naively implementing financial instruments on blockchains (permissionless or permissioned) can leak critical business intelligence: Monetary amounts, instrument terms, and participating counterparties. In today’s complex capital and derivatives markets, privacy is both a given and a legal requirement of most contracts.”

DeFi can be deemed as a downside for those looking for financial privacy, as there are numerous cases in which an open blockchain model may actually hamper secrecy. This is where Chainlink feels that MIxicles will be able to help out. Its concept is to integrate decentralized finance applications with the use of oracles and mixers/tumblers to create a solution that preserves the privacy of financial instruments. Callisto Network, a platform derived from Ethereum’s technologies, has recently integrated Chainlink’s Oracles into Callisto-based applications.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Chainlink recently unveiled DeFi instruments to promote privacy.

Chainlink recently unveiled a feature called “Mixicles.” According […]

Leave a Reply