In a significant update unveiled during the 2024 SmartCon conference, Chainlink co-founder Sergey Nazarov announced the launch of the Chainlink Runtime Environment (CRE), a transformative upgrade aimed at enhancing the on-chain ecosystem. This innovative platform introduces a modular and composable architecture, enabling developers to scale across thousands of blockchains seamlessly. One of the standout features is the deep customization tailored specifically for capital market users, along with a robust self-service product development framework.
The CRE upgrade refines the fundamental capabilities of the oracle network, allowing a combination of functionalities—such as on-chain data retrieval and API calls—into adaptable workflows. Each of these processes is fortified by a decentralized oracle network (DON), ensuring enhanced security and durability across multiple applications. The CRE serves as the foundational engine of the Chainlink platform, executing workflows only when designated trigger conditions are satisfied.
Moreover, the upgrade facilitates DON-to-DON communication, significantly optimizing the interaction between various functional capabilities. Developers can now integrate these functionalities directly within their applications without the necessity of incorporating Chainlink-specific coding into their underlying architecture. Notably, the transition will be conducted in phases, prioritizing the security of existing Chainlink service users throughout this critical upgrade process.