Chainlink pledges support for Ethereum projects

November 30, 2020
By Sam Grant

Chainlink recently announced it would support the development of Ethereum infrastructure projects

The oracle network for smart contracts is the latest protocol to announce it will offer support to Ethereum’s ecosystem. Chainlink released a statement confirming the news on its website.

“We remain committed to the continued growth of the Ethereum ecosystem, which is why we are taking part in Gitcoin Grants Round 8 as a matching partner to fund community-selected projects focused on improving Ethereum’s infrastructure.”

The two protocols have been at odds in the past. Some time back, Chainlink asserted that its network could work out most of the problems that Ethereum’s blockchain experienced. Users of the two have also compared them on several occasions.

One community member replied to Chainlink’s announcement tweet, saying that the situation between the two might change now that they are collaborating.

“Hopefully, this puts to bed the irrational discussions on $ETH vs. $LINK in the future because it’s obvious, crypto needs both projects to support each other in order to flourish.”

This is not the first time Chainlink has declared support for teams working to create the next-gen infrastructure. The decentralised network has previously financed many developers and groups in the field. This support has been through hackathons, Gitcoin Funding rounds, and bug bounty programs. In other cases, the support had been indirect i.e. backing other blockchains and the general ecosystem through the community grant program.

The announcement further detailed Chainlink’s confidence in the project.

“We believe Gitcoin’s quadratic funding model is worth supporting as a fair and decentralized way of ensuring that everyone in the Ethereum community has a voice in which projects are funded regardless of the amount of capital given by any individual donor. We will be donating additional funds to Gitcoin Grants Round 8 in order to match individual donor contributions given to popular projects.”

The Ethereum Grants Round 8 will start on Wednesday and run until 18 December.  Chainlink will now join Binance that already declared its commitment to the program early last month. The world’s leading crypto exchange pledged to donate $100,000 to the Grant.