Chainlink co-founder Sergey Nazarov said the recent launch of Chainlink runtime environment (CRE) could have a transformative impact on the blockchain industry, such as Ethereum Virtual Machine (EVM).
In YouTube video “CRE can have the same impact that EVM has on the blockchain industry,” Nazarov said on Monday. EVMintroduced by Ethereum, Enable Turing’s complete smart contractby allowing developers to use loop and state-based operations, reduced development time from months, while Bitcoin scripts are not available.
Nazarov said the smart contract development ecosystem is complex and has become a network of interconnected sub-cheese systems. He said Chainlink’s CRE added a layer of abstraction, making it easier for managers to manage this complexity.
“With CRE, from our own personal experience, based on its foundations, those months will be reduced to weeks or days,” he said.
Related: Blockchain compliance tools can cut tradfi costs: Chainlink co-founder
What is CRE?
Chain links Introduced CRE described it at the end of October 2024 as “deploying code directly on the linking platform to build and framing capabilities, eliminating the need to add chain link-specific code to its Onchain contracts.” As Cointelegraph reported at the timeCRE can also connect traditional financial architecture, payment systems and traditional institutions through blockchain protocols and smart contracts.
Effectively, CRE functions like a chain-linked network operating system. It runs a “workflow” composed of chain link services and summarizes price feeds, cross-chain messages, external application programming interfaces (APIs), zero-knowledge proofs, and compliance checks.
Related: ChainLink reveals compliance standards targeting $100T institutional encryption streams
How to build on CRE
Expect developers to write JavaScript,,,,, Typescript or goand all actions (reading blockchain, getting data from APIs, consensus and writing OnChain) are processed by ChainLink’s Decentralized Oracle Network (DON).
CRE orchestrated all of these Tang people’s actions to ensure it reaches cryptographic consensus and return the results to smart contracts independent of the chain it is located.
The architecture is designed to work across multiple chains and includes native support for confidential computing and zero-knowledge proofs.
The statements follow reports in mid-June, Chain, JPMorgan’s Kinexys and Ondo Finance Completed cross-chain delivery and payment settlement Between the licensed payment network that relies on CRE and the public test network.
Earlier this month Promote payments from mergers Infrastructure with emerging Onchain assets.
