The main goal of the update is to transition Chainlink to a modular architecture. As part of this process, the node software will be divided into individual components, each of which performs specific functions, such as reading data from the blockchain and performing consensus. These components will be secured by independent decentralized oracle networks (DONs), which will provide increased security and reliability.
“The new CRE runtime will allow developers to create workflows by combining components in different ways,” the team said in a statement.
The transition to the new architecture will provide Chainlink users with a number of benefits, including:
1. Support for popular programming languages and a user-friendly command line interface;
2. The ability to create solutions tailored to individual needs using programmable workflows;
3. Integration with off-chain APIs and multiple networks thanks to unified components.
Chainlink developers emphasize that the update is a key step in scaling the platform to serve capital markets and Web3 applications. The platform will be developed gradually to ensure the stability of existing services, and an early version of CRE is also open for those wishing to test new features.
Amid this announcement, the price of the Chainlink token (LINK) increased by 4.6%, reaching around $12. At the same time, the Bitcoin rate increased by about 1%, despite the overall decrease in crypto market capitalization by 0.8%.
Recall that earlier in July, Chainlink introduced a protocol for cross-chain interaction - Cross-Chain Interoperability Protocol (CCIP), which is also aimed at improving integration between blockchains.