Nervos has officially declared its integration with Chainlink in order to bring the decentralised oracle solutions to its platform.
Chainlink is a blockchain-based fintech company that was established by SmartContract Chainlink Limited SEZC. Its native digital asset LINK is an Ethereum based token that aims at facilitating decentralised network applications by connecting their smart contracts to external sources. This way there is no need for the dApps and other smart contract features to depend on unreliable data.
On the other hand, Nervos is a blockchain-based public ecosystem that aims at providing solution protocols to the major challenges that are faced in the blockchain companies like, Bitcoin and Ethereum. It has a very different crypto-economic model which helps in segregating the interests of users, developers and miners.
Off-Chain Connectivity And Real World Important Aspects of Public Blockchain
When it comes to public blockchains, the off-chain connectivity of the decentralised networks is one of the important features. Sometimes in order to enhance off chain connectivity platforms have to depend on third party datas. At times it becomes hectic to manage them and to some extent questions the security of the network. Hence, Nervos collaboration with the oracle service provider, Chainlink helps in eliminating the possibility of any of the above-mentioned flaws. By integrating with Chainlink, Nervos doesn’t have to worry about the involvement of third party datas anymore.
Nervos Will Leverage Chainlink’s Wide Range of Oracle Database
Nervos aims to utilise the Chainlink’s large stock of independent secure node operators, decentralised oracle solution, data resources of top-notch quality and so on. The developers can now efficiently build DeFi applications that are linked to real-world data without having to worry about the safety and dependency of the platform.
Increased Use Cases in Smart Contract Applications
The co-founder of the Nervos platform, Terry Taiin in response to its recent collaboration with Chainlink said that it will not only provide its developers a wide range of data but also gives them a suite of tools to enhance the security and reliability of its network.
The co-founder of Chainlink, Sergey Nazarov said that they are excited to provide an exposure to creation of a wide range of next-generation data-driven applications that can be built on the Nervos layer 1 design. The integration also adds to the number of use cases in DeFi, Gaming, Insurance for Nervos developers.
