Cardano joins Chainlink to provide additional support for developers who build smart contracts by integrating oracles
Contents
- Cardano collaborates with Chainlink
- Chainlink to run Cardano smart contracts
The Cardano team just published a blog post announcing a partnership with Chainlink that will lead to the integration of Chainlink Oracle. This will help developers build smart contracts for Cardano DeFi applications.
The collaboration was announced during the Cardano Summit today, on September 25th.
New blog: Announced just moments ago on # Cardano Summit 2021, presents our cooperation with Chainlink Labs # Davy Developers #BuildingOnCardano Secure access to a wealth of real-world data through Chainlink’s decentralized oracle networks @string link Tweet embed https://t.co/kOWFpjhtpL
– InputOutputHK September 25, 2021
Cardano collaborates with Chainlink
Chainlink’s oracle networks provide data to blockchain networks and allow smart contracts to work with election results, sports statistics, crypto rates, etc. It can also run weather data (Chainlink now works with some fintech companies that provide border insurance to South Africa) and other types of data as well.
Chainlink oracles help run hybrid smart contracts on any DLT network. Currently, Chainlink secures billions of dollars in DeFi applications, gaming applications, insurance-related platforms, and other major industries.
Chainlink to run Cardano smart contracts
Integrating this oracle into Cardano DLT will allow development teams to provide enterprise data provided by Chainlink in their smart contracts. oracles will support forecasting applications that handle sports and weather data needed for modular insurance applications; It will be applied in the field of games and digital collectibles, such as NFTs, etc., across multiple partnerships.
IOHK founder Charles Hoskinson stated that Chainlink oracles are essential for advanced smart contracts and will provide real-world data to the Cardano blockchain. He emphasized that Cardano intends to provide developers with the best tools to create solutions that will be of real use.
Hoskinson believes that the Chainlink Oracle integration will also provide a perfect foundation for Cardano’s DeFi ecosystem.
