-2.70% Bitcoin (BTC) 94283.8 EUR
-5.52% Ethereum (ETH) 3717.05 EUR
-2.74% Litecoin (LTC) 94.26 EUR
-3.55% B-Cash (BCH) 465.42 EUR
-2.78% Ethereum (ETH) 0.0399051 BTC
-0.09% Litecoin (LTC) 0.00101101 BTC
-0.97% B-Cash (BCH) 0.00492678 BTC
-2.74% Bitcoin (BTC) 111081.4564 USDC
+0.02% USD Coin (USDC) 0.85 EUR
-1.47% Chainlink (LINK) 20.24 EUR
+1.29% Chainlink (LINK) 0.00021549 BTC
-3.70% Dogecoin (DOGE) 0.18 EUR
-1.50% Dogecoin (DOGE) 0.00000197 BTC
-4.38% Uniswap (UNI) 8.29 EUR
-1.68% Uniswap (UNI) 0.00008827 BTC
-4.84% Cardano (ADA) 0.71 EUR
-2.31% Cardano (ADA) 0.00000757 BTC
-3.31% Tron (TRX) 0.29 EUR
-0.64% Tron (TRX) 0.0000031 BTC
-3.02% Shiba Inu (SHIB) 0.00001057 EUR
+1.06% Zcash (ZEC) 36.78 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
-5.28% Arbitrum (ARB) 0.4943 USDC
-1.54% Chainlink (LINK) 23.35 USD
-1.62% Chainlink (LINK) 23.35834 USDC
-4.23% Uniswap (UNI) 9.572 USDC
-3.27% Ondo (ONDO) 0.78 EUR
-3.30% Ondo (ONDO) 0.91098 USDC
-2.23% Gala (GALA) 0.01 EUR
-2.63% Gala (GALA) 0.01629 USDC
+20.43% Wormhole Token (W) 0.07 EUR
+19.81% Wormhole Token (W) 0.0895 USDC
-1.71% Chiliz (CHZ) 0.03 EUR
-1.87% Chiliz (CHZ) 0.03933 USDC
-1.69% Sand (SAND) 0.23 EUR
-1.56% Sand (SAND) 0.2758 USDC
-3.61% Aave (AAVE) 265.64 EUR
-3.64% Aave (AAVE) 308.75 USDC
-6.34% Curve DAO (CRV) 0.65 EUR
-6.41% Curve DAO (CRV) 0.76 USDC
-2.99% Immutable X (IMX) 0.45 EUR
-3.06% Immutable X (IMX) 0.5279 USDC
0.00% Skale (SKL) 0.07 USDC
-0.63% Beam (BEAM) 0 EUR
-1.61% Beam (BEAM) 0.00732 USDC
0.00% Axelar (AXL) 1.05 USDC
-12.84% Livepeer Token (LPT) 6.16 EUR
-11.78% Livepeer Token (LPT) 7.244 USDC
-2.91% Compound (COMP) 36.97 EUR
-2.94% Compound (COMP) 43.12 USDC
-3.08% Coti (COTI) 0.04 EUR
-3.02% Coti (COTI) 0.0513 USDC
0.00% Portal (PORTAL) 1.1 USDC
-3.09% Sushi (SUSHI) 0.65 EUR
-3.14% Sushi (SUSHI) 0.7617 USDC
-3.66% Pepe (PEPE) 0 EUR
-3.73% Pepe (PEPE) 0.00000978 USDC
-2.88% Optimism (OP) 0.59 EUR
0.00% Polygon (MATIC) 0.2 EUR
-3.06% Solana (SOL) 177.77 EUR
-0.26% Solana (SOL) 0.0018852 BTC
+2.90% Solana (SOL) 0.047798 ETH
+0.52% USD Coin (USDC) 0.74 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

Chainlink downplays worries after users notice quiet change to multisig

09-25-2023

Chainlink critics have reiterated concerns about the oracle networks’ supposed centralization after a subtle adjustment to its multisig wallet.

Decentralized oracle network Chainlink has downplayed a recent change in the number of signers required on its multisig wallet — a move that garnered backlash on social media from vocal critics.

Crypto researcher Chris Blec was among a number of users on X (formerly known as Twitter) who called out Chainlink for quietly reducing the number of signatures required on its multi-signature wallet from 4-of-9 to 4-of-8.

The 4-of-8 multisig requirement is a security measure that requires four out of eight signatures to authorize a transaction.

In a Sept. 25 X post, Blec drew attention to an original post from a pseudonymous user which showed that a wallet address had been removed from the multisig wallet without any announcement being made by Chainlink.

While members of the crypto community were quick to raise their concerns with the move, a spokesperson for Chainlink told Cointelegraph that the update was part of a standard signer rotation process.

“As part of a periodic signer rotation process, the multisignature Gnosis Safes used to help ensure the reliable operation of Chainlink services were updated. The rotation of signers was completed, with the Safes maintaining their regular threshold configuration.”

Blec has long been an outspoken critic of Chainlink, going as far as saying that “the entire DeFi ecosystem can be intentionally destroyed in the blink of an eye,” if Chainlink’s signers were to ever “go rogue.”

According to Blec, the centralization risk inherent in Chainlink extends to a range of mainstay DeFi projects including Aave and MakerDAO, which rely on Chainlink’s oracles for price data.

Chainlink is a decentralized oracle network that enables Ethereum-based smart contracts to communicate securely with real-world data and services outside the siloed world of blockchain networks.

Notably, Chainlink’s native LINK LINK tickers down $7.22 token has been one of the best performing crypto assets in recent weeks, having gained nearly 20% over the last month according to price data from Cointelegraph.

Source: Cointelegraph.