Chainlink launches Chainlink Functions, a powerful Web3 serverless platform
Chainlink (LINK/USD) has taken its Web3 services a notch higher with the launch of its new powerful new Web3 serverless developer platform Chainlink Functions.
The new developer platform is aimed at allowing developers to connect their decentralized (dApps) or smart contracts to any Web2 API with just a few lines of code. Besides connecting to the APIs, the developers can custom computations in minutes using Chainlink’s highly secure and reliable network.
The Chainlink Functions platformCopy link to section
With the new platform, developers will not require any additional infrastructure to connect their dApps and smart contracts and run custom computations.
The Chainlink Function is a powerful self-service toolkit for developers who are seeking to build the next level of advanced dApps and it has integrations for Amazon Web Services (AWS), Meta, AP and more.
There is a surge in demand for connecting blockchain technology to real-world data, traditional systems, and Software-as-a-Service (SaaS) APIs since developers often find themselves limited by how quickly they can build and scale new dApps. Additionally, the lack of robust tooling has led to a limited number of active developers in Web3, while the need to operate custom infrastructure and connect each dApp to disconnected data sources has limited the exploration of use cases in Web3 applications. However, Chainlink Functions is expected to bridge this gap.
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Chief Product Officer of Chainlink Labs Kemal El Moujahid commenting on the launch of the Chainlink Functions said:
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“Web3 has the power to transform our world in countless ways. But for that promise to materialize, we need to make it easier for the 30M developers out there to bridge Web3 with the Web2 tools and infrastructure they’re already using. With the launch of Chainlink Functions, we are removing a major roadblock in the adoption of Web3, and making it easier than ever for developers to combine smart contracts with the powerful APIs and Web2 data sources they need to build amazing applications. As we help usher in a new era of app development, we are excited to see what developers can build.”
The Beta Version of Chainlink Functions is live on the Ethereum Sepolia and Polygon Mumbai testnets. The platform will continue to expand in functionality over time as it also expands its deployment across more chains in the future based on user demand and feedback.
When deployed on the mainnet, Chainlink Functions is expected to use a subscription model where users pre-fund a contract, in a similar manner to how subscriptions are used for Chainlink Automation and Chainlink VRF.
Chainlink Functions’ benefitsCopy link to section
To start with, developers will be able to connect their smart contract to any data, device, or system, ranging from public and password-protected APIs to Internet of Things (IoT) devices and enterprise systems. Secondly, they can aggregate and transform their data using a highly scalable and customizable serverless runtime environment.
Developers are also assured of trust-minimized security since the platform is built upon Chainlink’s secure and reliable decentralized oracle infrastructure that already helps enable $7 trillion in DeFi transactions.