HIGHLIGHTS
- Chainlink has acquired DECO, a cryptographic protocol developed at Cornell University, to enhance data security across both Web2 and Web3 environments.
- Cryptography expert Dr. Ari Juels, who previously formalized Proof of Work, joins Chainlink as Chief Scientist, spearheading research and overseeing DECO’s implementation within the Chainlink ecosystem.
- DECO’s advanced cryptography enables secure data transmission without revealing sensitive information, allowing premium data providers and enterprises to interact with blockchain systems while maintaining privacy.
Chainlink, the leading decentralized oracle network known for securing over $3 billion in value across the decentralized finance (DeFi) landscape, is further cementing its role in the blockchain world with its latest acquisition. The company has acquired DECO, a cutting-edge cryptographic protocol from Cornell University, marking a pivotal moment for both internet and blockchain security.
DECO, developed by Dr. Ari Juels, a prominent figure in cryptography and former Chief Scientist at RSA, promises to revolutionize how data is transmitted across the web by enhancing security standards within the HTTPS/TLS protocols. Dr. Juels, who co-authored the formalization of Proof of Work, a key concept underpinning Bitcoin and other cryptocurrencies, will also be joining Chainlink Labs as Chief Scientist.
This acquisition signals Chainlink’s commitment to scaling secure data transmission in both traditional Web 2.0 and emerging Web 3.0 environments.
Sergey Nazarov, Chainlink’s Co-founder, hailed the partnership, stating, “We have long collaborated with Ari Juels; this acquisition enables us to fully integrate DECO’s unique data security capabilities within Chainlink, which already secures more than $3 billion in value.”
Chainlink’s move to acquire DECO underlines a growing recognition of the importance of secure, tamper-proof data in a world increasingly dependent on decentralized applications (dApps), smart contracts, and sensitive financial information. DECO’s implementation can create a profound impact, offering enterprises, developers, and consumers a higher level of privacy and security for data usage across the internet.
A New Era for Data Security: From Enterprises to Consumers
One of DECO’s groundbreaking features is its ability to extend HTTPS/TLS capabilities, ensuring that data can be transmitted securely without revealing it to unintended parties, including the applications using it. This is achieved through advanced cryptography and zero-knowledge proofs—allowing verifiable data transfers while maintaining complete confidentiality.
DECO has the potential to unlock new streams of high-quality, premium data for decentralized applications that previously struggled with privacy concerns.
This breakthrough is expected to reshape various industries. Premium data providers, which have traditionally been hesitant to share information via blockchain due to its public nature, will now be able to interact securely with decentralized finance (DeFi) protocols.
Enterprises can verify private data states—such as financial records—without revealing the underlying information. Consumers, too, will benefit, gaining the ability to share proof of identity or account balances without granting full access to personal information.
“DECO’s ability to provide previously unavailable data security when transferring data over the internet will greatly increase the private and premium data available for use by all Web 2.0 and Web 3.0 applications,” added Nazarov.
Ari Juels’ Return to Blockchain Research
Dr. Ari Juels’ deep expertise is a strategic asset for Chainlink. His prior work on Proof of Work not only secured the foundations of Bitcoin but also set the stage for many decentralized systems we see today.
As Chief Scientist at Chainlink Labs, Juels will be at the forefront of research aimed at bolstering the security and trustworthiness of decentralized networks.
“I’m delighted to intensify my involvement with the Chainlink team in my new role as Chief Scientist of Chainlink Labs. With its strong focus on cutting-edge research for high-trust systems such as blockchains, I think Chainlink is ideally positioned to bring DECO to production,” said Juels.
The Bigger Picture for Web3 Integration
For Chainlink, this acquisition is not just about reinforcing its position in the DeFi space but about expanding its capabilities into mainstream internet infrastructure.
By embedding DECO into Chainlink’s oracle network, the company aims to offer new ways for businesses to connect secure data flows with blockchain systems, opening doors for sectors like finance, healthcare, and government to adopt blockchain technology without compromising sensitive information.
As blockchain technology gains wider adoption, the demand for robust, tamper-proof data transmission will only increase. With DECO, Chainlink is positioning itself as the go-to solution for secure data across both traditional and decentralized applications, bridging the gap between Web 2.0 and Web 3.0 and setting a new standard for data integrity in a decentralized world.
Read Also: EMURGO Launches “Oracle Core” in Strategic Push Toward UTXO DeFi Infrastructure