2022 SmartCon Conference Day One Review

Author: Chainlink

The 2022 SmartCon conference opened yesterday, attracting widespread attention from the Web3 community. This SmartCon invited over 150 guests to deliver more than 100 speeches, bringing together industry leaders, founders, developers, researchers, and community members from Web2 and Web3 to share and explore the cutting-edge innovations of Web3.

This article will review the key speeches, plans, announcements, and product updates presented on the first day of SmartCon held in New York. Everyone gathered at the 2022 New York SmartCon conference.

Building a Web3 World: Keynote Speeches, Content Sharing, and Panel Discussions

This SmartCon brought together leaders from Web2 and Web3 to discuss how to drive the mainstream development of trust-minimized applications. Keynote Speech by Sergey Nazarov Chainlink co-founder Sergey Nazarov delivered a keynote speech titled "Building a Web3 World Powered by Cryptographic Truth" at the beginning of the conference. In his speech, he elaborated on the success factors of the Chainlink network, key developments in Chainlink economics, and various services expected to accelerate Chainlink's future growth.

The Chainlink network can provide increasingly advanced oracle services for hybrid smart contracts, thus driving Web3 innovation. "Ultimately, these services will collectively create an infrastructure, an environment that transfers real-world value onto the blockchain and transforms it into a more reliable model, namely: a model where 'we cannot do evil.'"

------Chainlink co-founder Sergey Nazarov Watch the full video of the keynote speech

Panel Discussion on Capital Markets with SWIFT, DTCC, and BNY Mellon

SWIFT's Strategic Director Jonathan Ehrenfeld Solé, DTCC's Head of Product Management Stephen Prosperi, and BNY Mellon's Head of Corporate Tokenization Victor O'Laughlen discussed with Sergey how cross-chain interoperability will drive the development of digital assets in capital markets.

Solé and Sergey announced that SWIFT has adopted the Cross-Chain Interoperability Protocol (CCIP) in its early proof-of-concept project. SWIFT will use CCIP to send messages on-chain to transfer tokens. This will enable the SWIFT network to achieve interoperability across almost all blockchain environments.

Watch the detailed video

Fireside Chat with Eric Schmidt and Sergey Nazarov

Steel Perlot Chairman and former Google CEO Eric Schmidt had a fireside chat with Sergey. The two discussed the increasingly important role of trust minimization and the core value of Web3 infrastructure for Web2 enterprises. Chainlink co-founder Sergey Nazarov discusses the future of Web3 with former Google CEO Eric Schmidt. "I want to congratulate you all because you are standing in the right position with Chainlink to drive the development of Web3."

------Eric Schmidt, Steel Perlot Chairman and former Google CEO Watch the video of Eric and Sergey’s fireside chat

Chainlink 2.0 Economics

Chainlink 2.0 economics includes a series of plans focused on enhancing data security and functionality while reducing the operational costs of oracle services, increasing user revenue for Chainlink service providers, and allowing more service providers, including stakers, to participate in the Chainlink ecosystem. Chainlink 2.0 economics will enable sustainable growth, cryptoeconomic security, and more effective value capture mechanisms for the Chainlink network.

Chainlink SCALE

SCALE (short for "Sustainable Chainlink Access for Layer 1 and 2 Enablement") is a plan launched by Chainlink Labs. Under this plan, blockchain projects commit to offsetting the operational costs of the oracle network to accelerate ecosystem growth and support the long-term sustainability of Chainlink oracle services.

The blockchain and L2 networks participating in the initial phase of the plan include Avalanche, Metis, Moonbeam, and Moonriver. Overview of the Chainlink SCALE plan.

Chainlink BUILD

The Chainlink BUILD program is a plan launched by Chainlink Labs aimed at accelerating the development of early and mature projects within the Chainlink ecosystem, providing them with more Chainlink services and technical support. In return, project teams need to commit to paying network fees and other incentives to Chainlink service providers such as stakers. Overview of the Chainlink BUILD plan.

Projects participating in the initial phase include:

• Space and Time------ A decentralized data warehouse that provides low-latency queries and tamper-proof analytics for Web3 ecosystem users.

• Truflation------ A data provider with consensus-level price data and over 30 real-time data sources, offering independent and manipulation-resistant inflation data to users.

• bitsCrunch------ An AI-based NFT data analytics service provider that filters wash trading in the NFT market, provides more accurate NFT pricing, and authenticates digital artworks.

Chainlink Integrations and Product Updates

Chainlink Labs' Chief Product Officer Kemal El Moujahid announced several product updates in his keynote speech about Chainlink products and invited numerous top projects to share how they are using Chainlink oracles to unlock new Web3 applications and markets. Chainlink Labs' Chief Product Officer Kemal El Moujahid on the main stage of the 2022 SmartCon conference. "We invented a decentralized consensus mechanism based on oracles that not only solves the connectivity issues of blockchains but also ensures trust minimization for applications. We adopted a community-based decentralized mechanism, and the more developers participate, the better the outcome."

------Chainlink Labs Chief Product Officer Kemal El Moujahid

Bitcoin Interest Rate Curve

Chainlink is collaborating with CF Benchmarks to launch the CF Bitcoin Interest Rate Curve (CF BIRC), a replicable and non-manipulable benchmark that measures the current and expected interest rates of Bitcoin for different maturities. Coinbase Cloud x Chainlink NFT Floor Price Feed Coinbase Cloud, Coinbase's independent blockchain development service suite, is collaborating with Chainlink Labs to launch an NFT floor price feed. This includes launching a series of Chainlink Data Feeds to track the floor prices of the top ten NFT collections. Chainlink Automation Kemal also announced that Chainlink Keepers has officially been renamed Chainlink Automation to cover a broader range of products, enabling automation for more advanced smart contract applications. Chainlink Badge Program The Secured With Chainlink badge showcases to users that applications have integrated Chainlink's industry-leading security infrastructure. Participants in the program can receive badges, demonstrating to users that their applications are connected to Chainlink's industry-leading services. More Information The first day of the 2022 SmartCon conference provided participants with a comprehensive overview of Chainlink's future development roadmap, from new product launches to key 2.0 economic mechanisms, and Chainlink's long-term vision: building a global economy based on cryptographic truth.

Participants can watch the videos from the first day and some speeches from the second day on the official YouTube playlist of the 2022 SmartCon. To learn more about Chainlink and the Chainlink ecosystem, please subscribe to Chainlink News and follow Chainlink's official Twitter account.