Chainlink launches a tool to help connect smart contracts with Web2 applications

The Chainlink Functions toolkit will allow connecting traditional applications with smart contracts that exist on the blockchain.

Chainlink (LINK) partners with SWIFT to support cross-chain transactions using CCIP technology
Chainlink launches a tool to help connect smart contracts with Web2 applications

On the evening of March 1, the leading oracle solution in the cryptocurrency industry, Chainlink (LINK), announced the launch of Functions, a tool to help developers easily connect smart contracts with any traditional Web2 API, as well as use Chainlink’s safe and secure network to process data.

Chainlink explains that one of the inadequacies that prevent the crypto/Web3 sector from achieving large-scale adoption is that it still exists independently of the traditional technology sector without any bridges, even having to build return the solution from the beginning if you want to apply the crypto element. With Functions, Chainlink will help global developers link smart contracts deployed on blockchain with popular Web2 APIs, for example to access social networks, messaging services, AI chatboxes, etc.

Chainlink says Functions is in final testing on Ethereum’s Sepolia testnets and Polygon’s Mumbai, with integrated participation from tech giants including AWS, Meta, and Google Cloud, along with a number of crypto projects such as: Block Scholes, ChainML, Dopex, Nusic, Thirdweb.

However, the price of LINK did not have many remarkable reactions to the above news.

1h chart of LINK/USDT pair on Binance exchange at 08:25 AM on 02/03/2023

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