Chainlink claims its Total Value Secured (TVS) exceeds $75B

Leading Oracle solutions provider Chainlink has achieved another milestone after its Total Value Secured (TVS) surpassed $75 billion (£55.56 billion). The company unveiled this news through a press release earlier today, noting that this feat comes amid the increasing adoption of its oracles. Reportedly, the Chainlink ecosystem currently features over 900 protocols, including hundreds of DeFi apps.

According to the news release,

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Commenting on this bullish development, Chainlink’s co-founder, Sergey Nazarov, said,

Crossing $75Bn in total value secured makes the Chainlink network one of the most value securing forms of decentralized consensus on the planet.

Nazarov added that Chainlink networks are securing the most valuable smart contracts on different chains. Touting the network’s role in helping the DeFi space grow, he noted that it is impossible to develop DeFi applications without trusted price data, which is vital in triggering smart contracts.

Per Nazarov, the rate at which Chainlink brings new market data to blockchains is commensurate with the number of new DeFi apps entering the market.

Over 10 blockchains use Chainlink oracles

The publication further divulged that Chainlink comprises individual oracle nodes operated by world-class DevOps teams from organizations like Deutsche Telekom’s T-Systems and Swisscom. As such, it is the most time-tested oracle network in the blockchain industry.

These attributes have seen the network become the go-to standard for anyone looking to develop financial applications on the blockchain. Since the network’s mainnet launch, Chainlink has rolled out over 700 oracle networks that have served over 600 million data points to more than 10 distinctive blockchains.

Despite its TVS milestone, Chainlink is just getting started. According to Nazarov, market data is DeFi is the first area that Chainlink has seized. However, as more organizations launch and run nodes, Chainlink has seen various data sets enter the blockchain.

Expanding beyond price data feeds

Per the news release, Chainlink has already started availing new types of data on-chain. An example is whether data from Google Cloud Platform and AccuWeather. The Associated Press, the first leading news organization to run a Chainlink node, has also availed sports and election data on-chain.

Apart from securing new node operators, Chainlink also launched Keepers. This feature lets smart contracts automate vital functions and event-driven tasks in a reliable, decentralized, and low-cost manner.

Additionally, the network rolled out the Cross-Chain Interoperability Protocol (CCIP), which works as a universal, decentralized inter-blockchain standard for sending messages, data, and tokens.

With these improvements to its network, Chainlink is positioning itself as an integral part of what is increasingly becoming a multi-blockchain ecosystem.