Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Chainlink Forum => Topic started by: EAA-ALLAH on February 25, 2021, 03:09:34 AM
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Chainlink has launched a major upgrade for its oracle network, dubbed Off-Chain Reporting, or OCR. The upgrade was announced on Wednesday, though the implementation has been live for some time already.
OCR changes how data across multiple sources is joined together by the oracle network. Previously, the process of aggregating different readings of the same desired input — for example, a token’s price — was done on-chain. Chainlink nodes would submit their individual readings of the data, which would be verified by a smart contract on Ethereum and other blockchains. This approach, while guaranteeing the reliability of the data, was inefficient in terms of gas costs, as each node would need to spend resources to publish the data.
Rest information:Click here (https://cointelegraph.com/news/chainlink-rolls-out-ocr-system-upgrade-reducing-gas-costs-tenfold)
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That is a very Bullish intel I was doing some digging on chainlink myself and am considering putting some dollars there. Competition is huge and moving your deposit money at the right time is key to succes wish you all good luck
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This OCR in development will definitely be very difficult because I have read the article and it really makes me confused about the implementation in the Chainlink network.
Even though there are examples, still if we have limitations to understand it, it will be very difficult to understand.
But the results of this OCR will really be a tremendous strength for Chainlink in the future because this is the latest technology developed by Chainlink.