Chainlink developers have launched an off-network data aggregator. The largest update since launch, thanks to which the network speed will increase up to ten times.According to an article on the project\u2019s blog, the Chainlink team deployed an Off-Chain Reporting (OCR) update to the main network, the largest update since launching on Ethereum in 2019. Previously, data was aggregated within the network, which increased the costs of node operators. Chainlink co-founder Sergey Nazarov said that due to the growing load on the network, there were problems with the availability of data.The blog post says:OCR is the third and latest version of the Chainlink Core client run by Chainlink nodes. The most immediate benefit for DeFi and its users will be a 10-Time increase in the amount of real-world data that can be accessed by smart contract applications.The update, which has already been rolled out for the ETH\/USD and LINK\/USD price channels, combines data from different nodes in the Chainlink network. Each node disconnects from the data source before passing the information to the contract within the network. This data is then distributed to smart application contracts, such as in the DeFi industry.The original versions of Chainlink aggregated data on the network. This was done internally because we knew we could rely on the network\u2019s consensus, \u201c Nazarov said. However, in-chain aggregation is becoming increasingly inefficient as consumer demand increases the data needs of applications.According to the developers of Chainlink, the update will reduce the gas consumption of data providers in the Ethereum network. According to Blockchain, at the beginning of the week, the average cost of sending a transaction exceeded $40, and now this figure has fallen to $17.According to Nazarov, the update will not only reduce the load on the Ethereum network but also OCR takes the calculations that we\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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