NEAR’s Oracle Networks to be Hosted In Chainlink’s Open Networks

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • NEAR has announced that its decentralised oracle networks have been launched in Chainlink’s open web portal.
  • The collaboration of NEAR’s oracles with the versatile platform of Chainlink is to create a better ecosystem for the developers. 
  • NEAR developers can use Chainlink’s features like the secured node operators, retrieved data from credentialed APIs, decentralisation framework, TLS Verification, and so on to make better DApps. 

NEAR has announced that its decentralised oracle networks have been launched in Chainlink open web portal. Users are now free to view their testnet repositories and go through the guidelines and instructions. In a few weeks, the developers can use the platform to build applications that convert real-world data into programmable smart contracts.

The main aim of the Blockchain platform, NEAR, is to lead the computing platforms and provide the best tools for the developers that will facilitate the growth of new applications and also the DApps. The collaboration of NEAR’s oracles with the versatile platform of Chainlink is to create a better ecosystem for the developers. 

NEAR, A Significant Decentralised Platform For DApp Developers

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NEAR is a decentralised application platform that caters to management services for high-value assets. It puts the power of the Open Web directly into the hands of the users. People can very easily build DApps on the NEAR platform. It is known for its well supported OSS stack, deployed examples of the applications and protocol level royalties, which makes it a better building platform for developers. The native coin of the platform called ‘NEAR’ is mainly used by the network to pay its validators. On the other hand, Chainlink is a blockchain company aimed at resolving challenges on connectivity and interoperability of smart contracts. 

Chainlink Is Known For Its Leading Oracle Solutions

So what exactly are oracles? Oracles are outside data that are turned into the smart contracts so that they can operate. When it comes to oracle solutions, Chainlink is one of the best platforms for it and used by companies like Synthetix, AAVE, and many more. NEAR has also declared that they may use Chainlink’s verifiable randomness function (VRF) in the future. Following the integration, NEAR developers can use Chainlink’s features like the secured node operators, retrieved data from credentialed APIs, decentralisation framework, TLS Verification, and so on to make better DApps. 

The Integration Aimed At Catering Wide Range Of Applications For The Developers

Co-founder of the NEAR protocol, Illia Polosukhin said that this recent integration with Chainlink allows it to get access to the most versatile oracle network in the market. Furthermore, it also enables NEAR to connect with any off-chain APIs. These are the primary stepping stones for connecting Web2 and Open Web environments. As a result, developers gain exposure to a wide range of applications, such as decentralized financial products, NFTs, asset tokenization, and insurance contracts.

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