Posted: January 26, 2024 4:21 AM Updated: January 26, 2024 4:21 AM
Correction and fact check date: January 26, 2024, 4:21 AM
briefly
Chainlink and Arbitrum have jointly announced the mainnet beta release of Chainlink features, which are currently live on the Arbitrum One mainnet.
Decentralized computing platform Chainlink and Arbitrum, a suite of layer 2 scaling solutions for developing Ethereum decentralized applications (dApps), jointly announced the mainnet beta release of Chainlink Functions, currently operating on the Arbitrum One mainnet.
Arbitrum developers can now use Chainlink functionality within their applications as needed. To facilitate this, developers can refer to the Functions documentation and explore the Chainlink Functions Playground to experiment and set up a subscription to begin the integration process.
Chainlink Functions serves as a serverless, self-service developer platform, providing developers with a simple means to connect smart contracts to any API and execute computations with minimal trust. It acts as a distributed computing runtime and provides utilities for testing, simulating, and implementing custom off-chain logic for Web3 applications.
“Chainlink Functions will streamline the experience for Arbitrum developers to easily connect to Web2 data and experience low-cost computation,” said AJ Warner, Chief Strategy Officer at Offchain Labs.
“As L2, Arbitrum plays a critical role in supporting the overall health and sustainability of the Ethereum ecosystem. Making the feature available to Arbitrum users is about connecting Web2 and Web3 developers and bridging the gap, allowing for joint collaboration, growth, and a shared sense of community,” said Johann Eid, Chief Business Officer at Chainlink Labs.
The evolution of Arbitrum One
Built by Offchain Labs and managed by Arbitrum DAO, Arbitrum One serves as a general-purpose optimistic rollup for Ethereum. Facilitates high-throughput, low-cost dApps. The introduction of Chainlink Functions will enable more developers to onboard Web3 by providing the necessary infrastructure.
This approach allows builders with a Web2 or Web3 background to build feature-rich applications that seamlessly integrate the best of both traditional and Web3 development.
Arbitrum One’s total fixed value (TVL) has increased significantly in recent years, reaching a high of $11.4 billion in early January. However, the latest data from L2Beat shows that the total TVL of the Ethereum Layer 2 network has now decreased to $9.9 billion.
Arbitrum One’s Chainlink Functions mainnet beta release marks a significant step forward in improving the development experience for Arbitrum users, enabling streamlined connectivity and cost-effective computation of Web2 data, thereby contributing to the growth and development of the Web3 space.
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Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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