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As we live through the final days of 2023, the Chainlink team shared an exciting blog post on their official blog site. The content, penned by the team, summarized the developments in the Chainlink ecosystem during 2023 and included important hints for the year 2024. So, what happened in 2023 according to the Chainlink team, and what is expected for 2024? Let’s take a look together.
2023: A Year of Defining Steps
The first topic addressed by the team was Chainlink product updates. The team announced that they ensured highly secure cross-chain transactions and activities with the initiation of the Cross-Chain Interoperability Protocol (CCIP). The team also introduced Data Streams to the ecosystem for decentralized exchanges, providing dApps with fast data, and mentioned in their blog posts the low-latency data solutions for the on-chain futures market.
Additionally, significant functionalities were highlighted that allow developers to fetch data from any API or leverage their own Web2 infrastructure, enabling them to explore all kinds of use cases.
With these developments, the team announced that they achieved three major goals, and the most important milestone for these steps was surpassed during the SmartCon 2023 event held in Barcelona in October. According to the Chainlink team, these launch processes provided significant momentum to the Chainlink Network.
What is Expected for 2024?
After addressing the process, the team did not forget to mention their goals for 2024. Accordingly, it was announced that new updates will be made on these advancements to meet user demands in new markets in 2024.
The team shared that great importance will be given to CCIP to meet the demands arising from the major trend of capital markets moving from concept proofs to production within the ecosystem. This step will enable the seamless and secure transfer of tokenization processes for real-world assets (RWA) across chains.
The team, referring to the first product-market fit for blockchain-based applications and the versions of traditional capital markets compatible with blockchain technology, stated that this process will accelerate efforts towards a faster and more cost-effective type of blockchain adoption in the DeFi space.
At the end of the blog post, the team announced a step towards growing the Chainlink community. Accordingly, the Chainlink Platform will be created to achieve the targeted milestone of 1 million developers, and with this step, developers will be able to offer verifiable Web3 products to users.
