Hassan Maishera
Chainlink announced on Wednesday via X that Nethermind, the development firm behind the largest Ethereum client, is deprecating its legacy cross-chain infrastructure and migrating to Chainlink.
Following an extensive review, Nethermind is joining the Chainlink Network as a node operator to secure CCIP and Data Feeds.
In addition to becoming a node operator, Nethermind will also contribute to the Chainlink ecosystem as a development partner, building developer tooling & templates to accelerate institutional adoption.
Chainlink is powered by the LINK token, which is used to pay for platform services and secure the network’s proper functioning. Chainlink leverages a novel fee model where offchain and onchain revenue from enterprise adoption is converted to LINK tokens and stored in a strategic Chainlink Reserve.
Chainlink is at the forefront of financial innovation and the global tokenization trend. Traditional financial institutions and infrastructure, such as SWIFT, DTCC, Euroclear, J.P. Morgan, Mastercard, the Central Bank of Brazil, UBS, SBI, Fidelity International, ANZ, and many others, are adopting Chainlink as a fundamental infrastructure as they move toward tokenizing trillions onchain. Demand for Chainlink has already generated hundreds of millions of dollars in revenue across a variety of traditional and decentralized use cases.
Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is up 9.5% over the past 24 hours, trading at $10.57.
