2022-12-06
After the collapse of FTX, the second largest cryptocurrency exchange. Many people have become more interested in existence of assets. One of the idea is proof-of-reserves.
Chainlink enables blockchain to access real world data. It provides mechanism that connect smart contract to real world data by using something called Oracle.
Smart contract will reduce the possibility of human error. Furthermore,
it increases decentralization and prevent intervention from humans.
One of the services that Chainlink has is providing
proof-of-reserves. Linking financial state using Chainlink is a step forward to
improve transparency.
