Chainlink has just launched the Chainlink Runtime Environment (CRE). This new platform aims to make blockchain application development easier and more efficient.
Think of it like the Java Runtime Environment (JRE) for blockchain. CRE provides a unified space for developers to create applications that work across multiple blockchains.
During the Smartcon event in Hong Kong, co-founder Sergey Nazarov shared his vision. He hopes that CRE will be seen as a game-changer for traditional finance (TradFi), much like how Cobol automated finance decades ago.
Nazarov explained that CRE allows developers to connect all blockchains, Oracle networks, APIs, and payment systems into one application. This flexibility is a big shift from using predefined services.
With CRE, developers can cut their development time from months to just days or hours. It simplifies the process, making it quicker to build decentralized applications.
Each Oracle function in CRE is managed by specialized Decentralized Oracle Networks (DONs). These DONs consist of independent nodes that focus on specific tasks, like reading or writing data. This modular approach helps developers integrate more financial services on-chain.
Nazarov emphasized that financial institutions can use CRE to create compliant and privacy-focused workflows. Privacy is crucial for institutional transactions, and many traditional finance players are still hesitant to adopt blockchain technology.
CRE tackles privacy concerns using advanced cryptographic tools, like zero-knowledge proofs (ZKPs) and Trusted Execution Environments (TEEs). These tools allow sensitive data to be handled securely across chains without exposing it publicly.
Moreover, CRE is chain-agnostic. This means developers don’t need Chainlink-specific code in their smart contracts. They can create unified workflows without being limited by the blockchain or data source.
Nazarov also mentioned that Chainlink will roll out CRE in phases, similar to Ethereum. The initial core services will include Chainlink’s Cross-Chain Interoperability Protocol (CCIP). Right now, CRE is in early access, with a full rollout planned for 2025. This timeline allows developers to explore its features and integrate them into their workflows before the broader launch.