Chainlink launches new platform to conquer billion-$-Web 2.0 market
- Chainlink expands network features with the launch of Chainlink Functions, a platform designed to help developers connect dApps to Web 2.0 APIs.
- Chainlink’s product officer gives detailed insight into the future of the Web3 market, limitations faced by developers, amongst other things.
Ethereum Blockchain based network Chainlink, is expanding its network reach to accommodate developer needs with a new platform. Chainlink detailed the use cases, features and benefits of the platform named Chainlink Functions, in an exclusive interview with TechCrunch.
Chainlink Functions is a self-service, serverless platform. Using Chainlink Functions, developers on the network can easily connect smart contracts or their decentralized applications (dApps) to any Web 2.0 Application Programming Interface (API).
Kemal El Moujahid, the chief product officer at Chainlink Labs, explained that the platform is centered around ensuring that developers can merge leading Web3 smart contracts with the power of Web 2.0 APIs. He added that the move will result in developers gaining access to the best tools needed to successfully build their DApps.Kemal El Moujahid remarked:
Our goal is to enable developers to combine the best of web3 smart contracts with the power of Web 2.0 APIs. What this creates is a massive opportunity to build apps that combine the best of smart contracts and Web 2.0.
Kemal El Moujahid tells where Web3 is headed and how mass adoption can be achieved
The product officer also gave an insight into his stance on Web3 as the industry takes off. He maintains that Web3, like artificial intelligence, will not be binary. He went in to explain what he believes is the pathway to mass adoption of Web3 technology. He remarked:
Web3 is not going to be a binary thing. I’ve seen this in AI. The path to mass adoption was making it easy to embed AI into your apps. It’s the same with web3. You don’t have to build your entire app on-chain. It’s going to be a spectrum: part smart contract; part Web 2.0 APIs.
Speaking about the limitations of Web3 developers, he says that inaccessibility to Web 2.0 APIs is a large barrier for developers looking to use smart contracts to their fullest potential.
Smart contracts typically allow developers to build decentralized and secure services. These services are typically fairer for users as they are decentralized, and cannot be shut down in the same way that centralized platforms can be shut down.
These services have the capacity to secure the movement of billions of dollars of value. However, they are less likely to have a real-world impact if they cannot be connected to Web2 data or services.
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With the introduction of Chianlink Functions, popular programming languages like JavaScript, to ease the transition process for new Web3 developers getting into the market.
Developers will also be gives access to use Amazon Web Services (AWS), and Meta APIs to build Web3 apps. “This will enable developers to explore new use cases and disrupt new industries at a much faster pace.” Kemal El Moujahid stated.
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