Chainlink (LINK) has acquired DECO’s privacy protection oracle protocol from Cornell University. One of its founders, Ari Juels, will join Chainlink as chief scientist. Previously, Juels worked as chief researcher at RSA, and since 2014 he has been teaching at Cornell University, one of the major blockchain centers in the world. Juels took a sabbatical to focus on working at Chainlink. Together with his research partner Markus Jakobsson, he coined the term “proof-of-work”.
DECO uses advanced cryptography and “evidence of ignorance” to provide greater privacy to its users. In an interview with Cointelegraph, Chainlink co-founder Sergey Nazarov said that DECO integration will not only increase the security of the project infrastructure, but also potentially create new use cases:
“Chainlink DECO oracles will have a big impact on smart contracts in applications for enterprises, consumers and even DeFi. Basically, any smart contract that was previously restricted by private data will soon be able to function on a public blockchain like Ethereum without revealing any sensitive information to that chain. “
Nazarov believes that increased privacy will benefit both consumers and businesses. The latter may be able to demonstrate the state of their data to each other without disclosing it, while consumers may be able to prove personal and financial data without sharing it. He also said that this integration would potentially open up Chainlink’s oracles to new data sources:
“This is already leading to the addition of various data sources that were previously much more difficult to chain, due to the fundamental nature of public blockchains that are publicly visible, and the private nature of various high-value data sources.”
Responding to the question of whether Juels will be working at Chainlink, full-time, Nazarov said:
“He took a sabbatical and is currently focusing on working on the Chainlink protocol. He will also lead our entire research team, effectively guiding the technical aspect of the protocol as a whole. ‘
Nazarov said he could also create “endless opportunities” in the DeFi space – everything from credit scoring to proving credit collateral without having to reveal confidential information.