Decentralized Oracle Network Expansion
Decentralized oracle network Chainlink has recently launched its data feeds on Polygon’s zero-knowledge scaling solution compatible with the Ethereum Virtual Machine.
In a press release shared with crypto.news, Chainlink announced that the expansion enables blockchain developers to build decentralized applications on Polygon’s zkEVM in a new way, offering resistance to API downtime and flash loan attacks.
Unlocking Opportunities on Polygon zkEVM
Polygon Labs head, Marc Borion, expressed optimism about the integration of Chainlink’s oracles, stating that it will unlock the deployment of “several significant protocols on Polygon zkEVM early next year.” However, specific details about these protocols were not disclosed.
“Chainlink oracles unlock a host of DeFi applications, bringing opportunity for new dApps that truly leverage the unique value propositions of a ZK rollup, including fast finality and robust security.”
Marc Borion
Understanding Chainlink Oracles
Chainlink oracles serve as decentralized applications that connect blockchains to off-chain data sources. These programs enable smart contracts to access real-world information, such as prices, events, and other data not stored on the blockchain.
Bounty Reward for Critical Bug Discovery
In November 2023, Chainlink rewarded whitehat hackers Zach Obront and Or Cyngiser (Trust) with a bounty of $300,000 for discovering a critical bug that could have compromised the integrity of its Verifiable Random Function (VRF), a random number generator that enables smart contracts to access random values without jeopardizing security.
In 2022, Trust and Obront identified a malicious VRF subscription owner’s ability to manipulate the random number generation process. By repeatedly blocking and rerolling randomness, the whitehat hackers learned they could force users to receive an undesirable outcome while obtaining the desired value for themselves.
