Chainlink co-founder Sergey Nazarov said the recently launched Chainlink Runtime Environment (CRE) could have a changing impact on the blockchain industry such as the Ethereum Virtual Machine (EVM).
On a YouTube video Published on Monday by Chainlink, Nazarov said the Cre “may have the same effect that EVM has in the blockchain industry.” The EVMEthereum introduced, Complete intelligent contracts enabledThat reduced development time until week from months by allowing developers to use state-based loops and operations, capabilities not available in the Bitcoin script.
Nazarov said the Smart Contract Development Ecosystem is complicated and has become a web of coherent on- and offchain systems. Chainlink’s Cre, he said, adds a layer of abstraction that makes managing complexity easier for developers.
“In the Cre, from our own personal experience, developing on top of it, those months are reduced to weeks or days,” he said.
Related: Blockchain compliance tools can slash Tradfi costs: chainlink co-founder
What is CRE?
Chainlink introduced The Cre by the end of October 2024, which describes it as a way to “deploy code directly to the chainlink platform for developing and developing capabilities, removing the need to add a chainlink specific code to their onchain contracts.” Number Cointelegraph reported at that timeCre also allows the connection of traditional financial architecture, payment systems and legacy institutions with blockchain protocols and smart contracts.
Effectively, Cre’s operating such as an operating system for the chainlink network. It runs “workflows” consisting of chainlink services and combines price feeds, crosschain messaging, external application programming interface (API), zero-knowledge proofs and compliance with checks.
Related: Chainlink announced compliance criteria, targeting the $ 100t institutional crypto flow
How to build on CRE
Developer are expected to write JavaScript, Typcript o Go now.
The Cre announced the actions of all those dons, ensuring that it reached the agreed cryptographic and returned the results to a wise contract independently of the chain sitting.
Architecture is designed to work with many chains and includes folk support for confidential computation and zero-knowledge proof.
Statements comply with the mid -June report that the chainlink, the Kinexys of JPMorgan and Ondo Finance Completed a Crosschain delivery compared to payment of payment between a permission of the payment network and a public testnet that relies on CRE.
Earlier this month, Nelli Zaltsman, head of Blockchain payment of change in JPMorgan’s Kinexys, also said while speaking next to Nazarov that the bank was pushing to combine grade-institutional payments Infrastructure with emerging onchain assets.
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