- Chainlink has launched Functions, a new developer platform that aims to connect web3 apps with traditional cloud software.
- The platform includes integrations with Amazon Web Services (AWS) and Meta for infrastructure requirements.
Chainlink, the decentralized oracle network, has launched a new developer platform called Chainlink Functions. The new platform aims to connect Web 3.0 decentralized applications (dApps) with traditional cloud software. Chainlink Functions will offer integrations with Amazon Web Services (AWS) and Meta.
Chainlink Functions is available in beta on the Polygon Mumbai and Ethereum Sepolia testnets. The Chief Product Officer at Chainlink Labs, Kemal El Moujahid, explained that developers could run customizable computations on Web 2.0 API within minutes.
He stated, “Our goal is to enable developers to combine the best web3 smart contracts with the power of Web 2.0 APIs. This creates a massive opportunity to build apps that combine the best of smart contracts and Web 2.0.”
New Platform to Complement Oracle Service
Chainlink hopes the new developer platform will complement its existing Oracle service. With Chainlink Functions, blockchain developers can connect their dApps or smart contracts with any application programming interface within the traditional tech space without managing additional cloud infrastructure.
This new platform will remove a significant roadblock in adopting web3 and make it easier for developers to combine smart contracts with powerful APIs and web2 data sources.
Bridging Two Ecosystems
Chainlink is primarily known for its Ethereum-focused protocol that provides an oracle network to power-smart contracts. Essentially, Chainlink connects on-chain data with external systems, allowing smart contracts to execute actions and transactions based on real-world inputs and outputs.
The platform has facilitated over $7 trillion in value, with developers numbering well into the hundreds of thousands. Chainlink recognizes that there are millions of developers globally, and it hopes to become a bridge connecting both parties and facilitating mass adoption.
Moujahid stated, “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 will be a spectrum: ” smart contract, part Web 2.0 APIs.”
Lately, a growing demand for integrating blockchain technology with more traditional models such as SaaS (Software-as-a-Service) or APIs has been growing. However, there are limited ways to facilitate this integration.
Integration with AWS and Meta
Chainlink’s new platform facilitates integrations with Amazon Web Services (AWS), Meta, and many others. Web 3.0 developers using the new platform can seamlessly integrate with AWS Data Exchange and AWS Lambda, allowing them to access datasets directly through their marketplace. This expands the use case of their dApps in return.
Also, Meta developers can connect social media activity and small e-commerce-driven businesses with intelligent contracts through Chainlink Functions. They can then automatically trigger actions on-chain based on user off-chain activities.