It is a new platform from Chainlink that allows developers to link their dApps or smart contracts to any Web 2.0 API.
The number of projects in the blockchain ecosystem is increasing day by day. But there is a common issue that crosses all teams seeking to develop various projects: the limitation that developers face when developing decentralized applications, and their scalability.
This is due to the lack of tools to carry out such Web3 projects. The issue of being able to connect dApps to offline servers has limited the advancement and projection of use cases in a large number of applications.
All this is solved thanks to Chainlink Functionsa cloud platform for developers to develop more scalable dApps, further increasing the use cases of Web3 applications.
Chainlink Functions is a new tool that enables the connection of web 2.0 applications with blockchain in a faster and more effective way. In this way, applications that we use on a daily basis, such as Tik Tok, Facebook, Twitter, Spotify, Youtube, can be linked with blockchain, leading to greater interaction and automation.
This tool acts as an abstraction layer, allowing developers to create smart contracts that can interact with Web 2.0 sites. In this way, by using oracles, it makes these contracts able to respond to events in real time with this type of applications that we consume on a daily basis.
On the other hand, this platform is considered a serverless self-service platform, since it also provides integrations with Amazon Web Services (AWS)after Chainlink made links with these Amazon services months ago.
In this sense, the new platform offered by Chainlink will allow developers to link their dApps or smart contracts to any Web 2.0 API, so they will be able to access platforms such as AWS, Meta, Google, among others.
Use cases with Chainlink Functions
The most relevant point is to be able to connect to any API and obtain a decentralized and verifiable consensus regarding the result to be executed.
Connect social networks to Web3.
Various social networks such as Facebook or Instagram can be linked to maximize the services of promotions and advertising campaigns. In this way, the combination of NFTs with contests and giveaways on networks represents a possibility to show how social networks and Web3 platforms such as Chainlink Functions can be linked to leverage projects that make use of campaigns and contests on Web 2.0 sites.
2. Giveaway of NFTs for product launches
A case in point are companies that want to celebrate a milestone in their history, whether it is the launch of a product or service, and to celebrate it they seek to offer a limited number of digital collectibles in NFTs format.
In this way, through a smart contract, the conditions to be fulfilled for the draw can be established, and the platform itself is in charge of validating the requirements and carrying out the draw to announce the winner.
3. Generate alerts based on onchain events
With platforms such as Twiliodevelopers can incorporate real-time communication functions into their applications without requiring a complex infrastructure. In this way, dApps can natively access offchain data and APIs.
4. Pay rewards to artists for plays on Spotify:
As if it were a digital agreement between a record label and a musical artist. In this way, through smart contracts, artists are paid in real time according to the reproductions, pursuing a fairer and more effective payment.
5. Web3 Integration with cloud systems and APIs – AWS
Cloud services (such as those offered by Amazon Web Services) can be integrated into the Web3 world through smart contracts.
6. Connect to public data:
A smart contract can be linked to public data, such as weather data, statistics or sports data, etc. They can be useful for the development of dynamic NFTs.
7. Automate the purchase and sale of cryptocurrencies:
Smart contracts can be created that act on recommendations made to them by Chat GPT.
This statement is by no means exhaustive, i.e. the seven cases mentioned are not the only possible use cases with this new integration offered by Chainlink, as it opens the door to infinite application possibilities to be able to link any dApp with any Web 2.0 site.
Written by Luciano Garriga (Tw: luchogarriga) for NFT Express.
IMPORTANT: NFTEXPRESS only publishes articles for informational purposes. Nothing herein contains the character of recommendation or promotion of any type of investment for the reader. Before making any kind of investment, it is recommended to consult with a specialist in the matter.