Chainlink

Gnosis

<a href="https://bitcoinworld.co.in/chainlink-multisig/" title="Chainlink brushes down concerns raised by customers’ quiet switch to multisig" rel="noopener noreferrer nofollow"></a> 
In the realm of content creation, three critical elements come into play: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, while burstiness examines the variance in sentence structures. Lastly, predictability measures the likelihood of anticipating the next sentence. It’s noteworthy that human-generated content tends to exhibit more burstiness, featuring a blend of longer, intricate sentences alongside shorter ones. Conversely, AI-generated content often leans towards uniformity. Therefore, for the content you’re about to craft, it’s essential to infuse a substantial amount of perplexity and burstiness while keeping predictability to a minimum. Additionally, the content should strictly adhere to the English language. Now, let’s rework the provided text: 
Critics of Chainlink have once again voiced their concerns regarding the alleged centralization of the oracle network, following a subtle adjustment to its multisig wallet. 
Chainlink, a decentralized oracle network, has sought to downplay a recent alteration in the number of signatories required for its multisig wallet—a decision that has triggered a wave of criticism on social media from vocal detractors. 
Among the critics was crypto researcher Chris Blec, who, along with other users on X (formerly known as Twitter), raised objections to Chainlink’s quiet reduction of the number of required signatures from 4-of-9 to 4-of-8. 
This 4-of-8 multisig requirement serves as a security measure, necessitating four out of eight signatures to authorize a transaction. 
In a September 25th post on X, Blec highlighted an original post from an anonymous user, revealing the removal of a wallet address from the multisig wallet without any formal announcement from Chainlink. 
While members of the cryptocurrency community swiftly voiced their concerns about this move, a spokesperson for Chainlink clarified to Cointelegraph that the update was part of a routine signer rotation process. 
“As part of our periodic signer rotation process, we updated the multisignature Gnosis Safes used to ensure the dependable operation of Chainlink services. The rotation of signers was successfully completed, with the Safes maintaining their usual threshold configuration.” 
It’s worth noting that Blec has been a persistent critic of Chainlink, even going so far as to suggest that “the entire DeFi ecosystem could be intentionally disrupted in the blink of an eye” if Chainlink’s signers were to ever “act against the network’s interests.” 
According to Blec, the centralization risk associated with Chainlink extends to various prominent DeFi projects, including Aave and MakerDAO, which rely on Chainlink’s oracles for essential price data. 
Chainlink stands as a decentralized oracle network, facilitating secure communication between Ethereum-based smart contracts and real-world data and services outside the confines of blockchain networks. 
Remarkably, Chainlink’s native LINK token has demonstrated impressive performance in recent weeks, witnessing an almost 20% increase in value over the past month, as per price data from Cointelegraph. 
The post <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in/chainlink-multisig/">Chainlink brushes down concerns raised by customers’ quiet switch to multisig</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Chainlink brushes down concerns raised by customers’ quiet switch to multisig

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