- Cardano founder has recently announced some of its strategic partnerships in the recent 2021 summit
- The blockchain network has plans to use Chainlink’s oracle solution
- The firm behind the robust network seeks to offer safe and vigorous tooling to developers
- Besides collaborating with Chainlink, Cardano has made a coalition with the global telecom firm, Dish
Cardano Summit 2021, has revealed several strategic partnerships. Recently, the blockchain network partnered with the American telecom service provider, Dish. While the headline made the individuals in the cryosphere excited, the blockchain revealed another partnership with Chainlink, another rapidly growing ecosystem in the cryptosphere. The latest strategic coalition with Chainlink will allow developers to build smart contracts for decentralized applications (dApps) on Cardano’s network. Moreover, LINK’s oracles will provide access to real-world databases.
Cardano will use Chainlink’s decentralized oracle
The decentralized oracles of Chainlink offer tamper-proof, high-quality external data to blockchains. The feature allows smart contracts to be executed around the datasets. Such data include election results, sports stats, and prices in the crypto market. Currently, Chainlink Labs is working with several FinTech firms that are trying to stimulate parametric insurance in sub-Saharan Africa. Indeed, the solution is secure, verifiable, and robust.
It is worthy to note that LINK currently amasses tens of billions of dollars across DeFi, insurance, gaming, and other major sectors. Cardano believes that LINK is the most preferred oracle solution. Devs using the potential technology will be able to feed Chainlink’s institutional-grade data into their smart contracts.
Chainlink will provide aftermarket price feeds
This collaboration between IOHK, the firm behind Cardano, and Chainlink Labs will provide access to a prosperity of secure information. The strategic coalition will ultimately help the decentralized industry obtain its promise of constructing a less costly and more inclusive global economic system.
According to Charles Hoskinson, the founder of Cardano, such oracles are significant to make real-world data accessible on Cardano. And they support refined smart contracts like dApps.
IOHK is committed to offering secure and robust tooling
The team behind Cardano is committed to offering the most secure and robust tooling to devs. Hence, the network chose the Chainlink oracle solution. Besides integrating the price feeds, the blockchain also reduces the go-to-market time for the developers. However, the scenario will establish a secure foundation for the DeFi sector, where Cardano’s network will be more trusted globally.
Partnership with Dish corporation
Besides the oracle solution of Chainlink, Cardano has also announced a partnership with the American telecom service provider. The strategic partnership has attracted several eyes in the cryptosphere. If the integration of the blockchain network remains successful, Dish will provide 8 million digital identities to its clients while transforming the telecommunication industry. Indeed, it’s interesting to see Cardano growing at such a tremendous pace.