HONG KONG - Chainlink has launched the Chainlink Runtime Environment (CRE), a platform designed to enable developers to build custom applications across multiple blockchain networks. Unveiled during Chainlink's Smartcon, an event held in conjunction with Hong Kong Fintech Week, CRE is intended to simplify the process of creating decentralized applications.
According to Chainlink co-founder Sergey Nazarov, the goal is for CRE to become as crucial for integrating traditional finance into Web3 as Cobol was for automating finance and Java was for bringing finance online. CRE provides a unified environment for running code that connects various blockchains, oracle networks, APIs, and payment systems. By offering a flexible framework, Chainlink aims to reduce development time and enable the creation of more complex, interoperable applications.
The platform utilizes Decentralized Oracle Networks (DONs) to manage oracle functions, allowing for greater flexibility and modularity in application development. Furthermore, CRE incorporates advanced cryptographic tools to ensure privacy and security for institutional transactions, a key requirement for traditional finance. With its phased rollout, Chainlink plans to integrate its Cross-Chain Interoperability Protocol (CCIP) as the first core service, with a full launch scheduled for 2025.