To use Chainlink Automation on certain networks, you may need to conduct token transfers. You can transfer tokens by using Chainlink CCIP or third-party applications such as XSwap.
Parameters
- Payment Premium % (
paymentPremiumPPB): This percentage premium compensates the Chainlink Automation Network for monitoring and performing your upkeep. Every time a transaction is submitted for your upkeep, your LINK balance is reduced by the transaction cost plus this percentage premium. - Flat Fee Micro Link (
flatFeeMicroLink): A flat fee charged per transaction on all testnets and Optimism Mainnet. - Maximum Check Data Size (
maxCheckDataSize): The maximum size, in bytes, that can be sent to your checkUpkeep function. - Check Gas Limit (
checkGasLimit): The maximum amount of gas that can be used by your checkUpkeep function for offchain computation. - Perform Gas Limit (
performGasLimit): The maximum amount of gas that can be used by the client contract's performUpkeep function for the onchain transaction. You can set an upper limit on your upkeep during registration, but this number must not exceed the maxPerformGas on the Registry. - maximum Perform Data Size (
maxPerformDataSize): The maximum size in bytes that can be sent to your performUpkeep function. - Gas Ceiling Multiplier (
gasCeilingMultiplier): Establishes a ceiling for the maximum price based on the onchain fast gas feed. - Minimum Upkeep Spend (LINK): The minimum amount of LINK an upkeep must spend over its lifetime. If the lifetime (or total) upkeep spend is below this amount, then at cancellation this amount will be held back.
Configurations
Fantom
Fantom mainnet
New Fantom upkeeps not supported
Creating new Fantom upkeeps is no longer supported. Existing Fantom upkeeps are still supported.
Fantom testnet
New Fantom upkeeps not supported
Creating new Fantom upkeeps is no longer supported. Existing Fantom upkeeps are still supported.
FAQs
A blockchain oracle is a service that provides external data to smart contracts, enabling them not only to fetch data from other blockchains but also from the outside or off-chain world: sports events, banking data, and much more.
How to create a Chainlink oracle? ›
Building the Chainlink Price Oracle
- Step 1: Setting Up the Environment. First, ensure you have a development environment with Solidity and Truffle installed. ...
- Step 2: Creating the Oracle Contract. ...
- Step 3: Deploying the Oracle Contract. ...
- Step 4: Integrating the Oracle into DeFi Applications.
Summary. Chainlink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. Smart contracts are pre-specified agreements on the blockchain that evaluate information and automatically execute when certain conditions are met.
Which blockchain is used for smart contracts? ›
Ethereum
Ethereum is the best blockchain for smart contracts due to several key factors: Supports Solidity Language: Solidity is the native programming language of Ethereum, which makes it well-suited for contract development.
What is the most popular blockchain for smart contracts? ›
The top 10 best smart contract platforms in 2024 are Ethereum, Binance Smart Chain (BSC), TRON, Arbitrum, Cardano, Solana, Polygon, Algorand, Avalanche, and Tezos.
What is a common use of oracles in Web3? ›
Oracles act as the bridge builders, connecting blockchain based applications like dApps with external data sources. Web3 APIs provide a standardized way for dApps to interact with oracles and unlock off-chain information.
How do Chainlink oracles make money? ›
Every oracle within the Chainlink decentralized oracle network is incentivized to provide accurate data with a reputation score assigned to each. When oracles follow the software's rules and provide useful (accurate) data, they are rewarded with the Chainlink network native ERC-20 cryptocurrency token, LINK.
Does Chainlink solve the oracle problem? ›
Chainlink provides an innovative solution to the Oracle Problem by offering a decentralized oracle network. This network consists of multiple independent nodes that retrieve and verify data from various sources before delivering it to smart contracts on the blockchain via a link.
Does Chainlink have a future? ›
Coinpedia platform predicts Chainlink could reach $213.1 to $253.51 by 2030, and experts from Changelly forecast that it could reach minimum and maximum prices of $30.69 and $38.26 by the end of 2025.
How to execute smart contracts in blockchain? ›
How smart contracts work with blockchain: A step-by-step guide
- Parties agree to terms and conditions.
- The smart contract is created.
- The smart contract is deployed.
- Triggering conditions are met.
- The smart contract is executed.
- The contract result is recorded to the blockchain.
They are used on private and public blockchains to manage transactions without the need for a third-party intermediary. Smart contracts are programmed with one of a number of languages that are designed for this purpose, with Solidity and Vyper being two of the most common options.
Which blockchain does not support smart contracts? ›
Smart contracts do not run on the Bitcoin blockchain. The technology was introduced as part of the specification for Ethereum in 2014, which included a smart contract definition. So when it comes to smart contracts, Ethereum is the name of the game.
Why do blockchains need oracle? ›
The answer is it requires an oracle mechanism to fetch accurate match outcomes offchain and deliver it to the blockchain in a secure and reliable manner.
What are oracles used for? ›
Oracles are complex computerized systems that connect data from the outside world (off-chain) with the blockchain world (on-chain). Most blockchains have native cryptocurrencies that are used to transfer value, enable the operations of the protocol, or facilitate governance.
What is the purpose of the oracle? ›
An oracle is a person or thing considered to provide insight, wise counsel or prophetic predictions, most notably including precognition of the future, inspired by deities. If done through occultic means, it is a form of divination.
What is the role of oracles in DeFi? ›
Blockchain oracles are data feeds that source, verify, and transmit external information to smart contracts running on the blockchain. In the world of decentralized finance (DeFi), oracles play a crucial role. They serve as both inbound and outbound bridges for data shared between blockchains and the outside world.
