EIP 4488 sets the precedent for 'public good' layers to get preferential on-chain treatment.
Oracles need to be recognized as the ubiquitous layer 0 and public good service on which blockchain applications run.
The fact that Chainlink has to compete with all dapps to push price data on chain during crisis events, so all those dapps can remain operational, is utterly mind boggling.
The fact that Chainlink has to subsidies the core infrastructure of the entire defi economy out of its own pockets, while carrying all the multi chain, systemic risk of failure on its shoulders is utterly mind boggling.
We've had endless conversations about how solving the oracle problem wasn't simply a complex technical matter, but a complex chicken and egg economics problem as well. It requires an economy of scale despite dapps barely existing 3 years ago.
The fact that they succeeded so brilliantly & rapidly, achieving scale, sustainability and profitability in these adversarial conditions, is a testament to how fundamental the oracle layer is & how forward thinking, aggressive and hard working the cl team really is. It is, again, mind boggling. But in all the right ways.
Chainlink is now, by far, the most widely integrated middleware solution across the entire industry. And while it can sustain bootstrapping the entire industry and cover the gas expenses, it's about time that chains begin to recognize its pivotal role in the ecosystem as a main driver of dapps innovation and adoption.
And that ultimately means enabling oracles to have their own dedicated tx lane, slashing their gas costs entirely, as well as financially contributing to their growth. With staking and the partners growth program, this will accelerate.
Vitalik, for all his autistic genius, failed to foresee this and failed to understand his own baby and where and how it would generate value. Real world data, off chain compute, cross chain messaging. Ethereum will be reduced to a simple execution layer.
