In a path-breaking statement, Nervos Network has announced that it is integrating with Chainlink to benefit from its leading decentralized oracle solutions. Chainlink provides a wide range of independent and secure node operators combined with high performing data resources.
By leveraging these benefits, Nervos developers can create advanced decentralized applications (dApps) which can be linked up to conventional real-world data and systems while ensuring stringent security and reliability.
Chainlink in their tweet has confirmed the development. Check it out at
Blockchain platform @NervosNetwork is integrating Chainlink oracles to power universally connected smart contracts. Chainlink greatly expands the amount of data Nervos developers can use when building dApps while not compromising on security & reliability. https://t.co/tjuECe6r2o
— Chainlink (@chainlink) August 17, 2020
According to Chainlink latest news, this integration will help Nervos get around the usual Blockchain issues. One of the most critical components of a decentralized network is off-chain connectivity. But a host of challenges arise in many instances when third-party data feeds and sources have to be integrated. Both network security and reliability are often compromised and negatively impacted.
By linking with Chainlink, Nervos Network has ensured that these factors do not arise. With assured reliability and security, a large number of new cases can be initiated on Nervos. These range from gaming applications based on verifiable randomness, insurance products connected to IoT networks, and DeFi financial smart contracts.
Chainlink has a highly optimized architecture for creating and operating all types of decentralized oracle networks where developers can join the already-present oracle network or customize one with exclusive design. Chainlink has more than 35 decentralized oracle networks for accessing various data of FX rates, indices, commodities, and other digital assets. A large number of Sybil-resistant operators makes sure that no one oracle node becomes a single point of failure.
Nervos Network gains a lot by on-boarding the Chainlink decentralized network of oracles. Not only does it become an environment rich with data but also has a lot going for its developers. They can now build next-generation Blockchain applications through the many layer 2 protocols over the existing layer of Nervos CKB.
Terry Tai, co-founder of Nervos is happy that oracles will now be used to create contract application protocols.
He says,
Chainlink’s co-founder Sergey Nazarov echoes Terry Tai and says that the integration of Chainlink’s reliable oracles into Nervos will open up space for developing advanced data-driven applications built on the Nervos architecture.
