ChainLink are already happy about what they have achieved in making DeFi smart contracts to touch upon new heights. They feel overwhelmed as the entire smart contracts industry is moving towards more advanced use cases and the good thing being they are all connected.
Chainlink official channel tweeted: “We’re thrilled to launch the Chainlink Community Grant Program. As we enter the next stage of rapid growth in usage, network size and community, we want to support all the great teams helping build Chainlink.”
Chainlink are able to see that the ChainLink Network usage is increasing rapidly and that their technical community is reaching new stages and rapid growth. With growth comes a need for funding. And, they feel that it is important to help the community grow through the ChainLink Community Grant Program.
ChainLink are focusing to increase the volumes of data on-chain while improving on their security guarantees. They are also focusing on increasing the volumes of oracle validated data, which can further be used securely to generate smart contracts that are universally connected in different industrial sectors.
Thus, improving value of the network by providing valuable data for several use cases like “DeFi, decentralized insurance, blockchain gaming, and many other categories of financial contracts.”
Sydney Ifergan, the crypto expert tweeted: “Chainlink (LINK) are doing a great job by supporting all the great teams on the ChainLink network.”
Chainlink (LINK) Financial Incentives
The need for access to high quality data feeds will help building large numbers of smart contracts in a short period of time, providing for multiple different use cases and Dapps. The base of paying numbers of users can increase. Creating high quality data facilitates selling of high quality data and therefore more financial incentives. More data leads to more contracts.
There is already a quickly accelerating data cycle on the chain network facilitated by largest collection of on-chain price data on the public blockchain. There is an increasing demand for secure node operators and more numbers of community projects.
There is a video, which provides detailed views about the evolution of smart contracts and crypto economic security.
The Chainlink community grants program plays an important role in accelerating the data and security cycles, thereby making way to make more of tools and services to be used by data providers, node operators and smart contract developers who interact with the Chainlink Network.
Grants are set to be made in Link and the applicants to the grant program are requested to focus on the benefits, which the project will provide to the network.
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The TCAT team.