The team at Chainlink (LINK) has released a new whitepaper for the second iteration of its platform that will introduce hybrid smart contracts. Dubbed Chainlink 2.0
, the new whitepaper proposes improvements to the network in seven key areas.The team at Chainlink went on to explain that the proposed changes will be implemented incrementally over time as explained below.
This whitepaper is a long-term, multi-year view of how Chainlink will evolve.
This ambitious vision for the Chainlink Network will be implemented incrementally with new decentralized services being released in parallel, so we can formally analyze the security impact of this vast array of new oracle functionalities.
We’re confident that Chainlink will enable smart contracts to take the next major leap in their evolution, powered by a hybrid on-chain/off-chain architecture.
The price of LINK in the crypto markets experienced a knee-jerk reaction to the launch of the whitepaper to Chainlink 2.0, hitting a new all-time high of $44.1447 – Binance rate.
At the time of writing, LINK has experienced a brief pullback and is trading at $43.50. However, the implementation of Chainlink 2.0 will be a multi-year project hinting that this is the beginning of more gains
for LINK in the crypto markets.Additionally, the bullish momentum injected by Chainlink 2.0 increases the chances of LINK hitting $67 by the end of May