Smart contracts are on the rise. With networks like Ethereum, Solana, and Cardano getting increasingly popular, more people than ever are utilizing the benefits of these contracts. Smart contracts are protocols or programs that execute on the blockchain when certain specified requirements are met. They can be used for financial reasons, medical reasons, gaming, and more. One of the biggest struggles facing smart contracts is ensuring the information they receive is accurate in order for the contract to execute properly at the time it is supposed to. This is where Chainlink comes in. A Decentralized Oracle Network The goal of the Chainlink network is to connect smart contracts to data…
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Taking collateral out of DeFi
Incubated by VC firm A16Z, Teller aims to bring unsecured lending to decentralized finance, using Chainlink’s price oracles to get interest rates right
The latest entrant in the blazing hot decentralized finance arena, Teller’s goal is to provide a bridge between traditional finance and DeFi adoption “by lowering the industry’s barrier to entry.” Specifically, by eliminating the need to put up crypto collateral often worth 150% or more of the amount borrowed. Teller also will incorporate data from legacy credit scoring systems including Equifax.
