Chainlink Economics 2.0 and the Market for Trust-Minimized Apps | Sergey Nazarov at Consensus 2022

In this presentation from Consensus 2022, Chainlink Co-founder Sergey Nazarov discusses the massive societal shift toward cryptographically-guaranteed relationships and the role of oracles in this transition. Revisiting the increasing loss of faith in traditional institutions and the rise of end-to-end encryption as a new minimum standard, Nazarov explains how trust-minimized applications, powered by oracle infrastructure, are reformatting digital relationships and poised to become the largest technology market in the world. Nazarov also provides an overview of Chainlink Economics 2.0—a new era of sustainable growth and security for the Chainlink Network—highlighting the decreasing costs of operating oracle networks, the flow of revenue from Chainlinked dApps, and how stakers can be rewarded for supporting the network. This virtuous cycle of smart contract adoption powered by Chainlink innovation is the flywheel for enabling a cryptographically-guaranteed society, a new technological order that the world has been waiting for. 00:00 - The Restoration of Trust via Cryptographic Guarantees 4:05 - Cryptographic Truth Is Strictly Better than Paper Promises 4:49 - All Digital Agreements Will Require a Cryptographic Guarantee 6:38 - Trust-Minimized Applications: The Future of All Digital Agreement 8:16 - The Market for Trust-Minimized Applications Is Hundreds of Trillions 9:53 - Oracle Networks Provide Trust-Minimized Computing 13:45 - Off-Chain Assets Placed On-Chain via Proof of Reserves 14:38 - More Smart Contracts Need More Decentralized Services 18:14 - Costs Continue to Decrease for Providing Decentralized Oracle Networks 21:39 - Chainlink Economics 2.0: Fees and Staking Grow With Smart Contract Usage 23:04 - Planned Roadmap for Chainlink Staking 24:17 - The Evolution of Chainlink as a Cryptographic Truth Source 29:38 - Exploring the Future of Cryptographic Guarantees at SmartCon 2022 Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $10 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors. ✅ Subscribe to our channel here:    / @chainlink   Learn more about Chainlink: Website: https://chain.link Docs: https://docs.chain.link Twitter:   / chainlink   #Chainlink #crypto #onchain