Gelato claims to be Ethereum’s automation protocol. Gelato is built to work like a module for the already existing smart contract wallets.
ChainLink Official Channel tweeted: “Gelato, a protocol for automating dApps, is live on mainnet using Chainlink’s Fast Gas/Gwei Price Reference Data. Gelato applies the fast gas price at the point of contract maturity, ensuring users pay the fair market price & can control gas costs.”
For those who are not familiar, Gas Token is the first contract on the Ethereum Network which allows the users to buy and sell gas directly by enabling the long-term banking of gas which will be able to help shield users from the rising gas prices.
Gelato Network is a tool meant for developers to automate smart contracts execution on Ethereum. It is live on the Mainnet, Audited, Non-custodial, Provides Web3 developers with interesting business models and live integrations.
The Network makes it easy to build automated dapps by sending IFTTT-like transactions on the Ethereum. As opposed to having to build and relay on their own relay infrastructure, developers will be able to plug in to Gelato to eventually build non-custodial, automated dapps in no time.
Users or the developers on behalf of the users can deposit some ETH on gelato, which will be used to pay the executors, which are the relay nodes to execute the transactions on behalf of the users provided some conditions are fulfilled.
The developers will be able to thus create Dapps which have an amazing UX by paying for their users future transactions, while at the same time creating the biz models thus retaining 0.5% of the transferred volume in DAI.
When taking about Gelato providing for Ethereum’s automation protocol, Sydney Ifergan, the crypto expert tweeted: “It is good to see Gelato using Chainlink’s Fast Gas/Gwei Price Reference Data for the Ethereum Automation Protocol. Collaboration at its best.”
Chainlink (LINK) Lot of Integrations
It has been commonplace to see ChainLink oracle getting integrated very often. Though every integration is exciting and promises new advantages, it looks like it is just another integration by nature of it being commonplace every day.
Huobi Global have stated that they are making their exchange data available to smart contracts through ChainLink Network. Further, HuobiWallet are currently running a live ChainLink Node.
Oracles are the trend and they are becoming the indispensable pieces of infrastructure in the process of moving the blockchain space beyond just tokens.
ChainLink Official Channel tweeted: “Gelato, a protocol for […]