Avoiding Flash Loan Attacks With Secure Price Oracles | Sergey Nazarov, Chainlink

In this discussion with Matthew Aaron of Decrypt Daily, Chainlink Co-founder Sergey Nazarov explains how DeFi projects that rely on single exchanges for their price data are susceptible to price oracle attacks, and as value in DeFi grows, so too grows the incentive for malicious actors to use sophisticated attacks that target multiple exchanges simultaneously. Nazarov walks through common mistakes smart contract developers make when building oracles and explains how they can use Chainlink to protect user funds from these increasingly common yet avoidable attacks.

Sergey Nazarov is the Co-Founder of Chainlink, the most widely adopted blockchain oracle network for powering universal smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance, and gaming ecosystems, among others.

Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds, from global enterprises (Google, Oracle) to development teams at the forefront of the smart contract economy (Web3 Foundation, OpenZeppelin, OpenLaw, Hedera Hashgraph, Zilliqa, Synthetix, Aave, and many others).

Learn more about Chainlink:

Learn more about Chainlink:
Website: https://chain.link
Twitter: https://twitter.com/chainlink
Newsletter: https://chn.lk/newsletter
Telegram: https://t.me/chainlinkofficial

If you’re a developer, visit the developer documentation https://docs.chain.link​ or join the technical discussion on Discord https://discordapp.com/invite/aSK4zew