Chainlink Partners With Oracle To Add To Various Blockchain Environments And Smart Contracts
There have been many benefits to the rise of crypto such as the creation of a new way to make payment for individuals, a new investment to and, of course, the fact that for many it was their first exposure to the concept of decentralized networks which are becoming more and more a part of daily life. Decentralized networks are considered to be the next phase in application creation and besides the fact that they helped to create cryptocurrencies themselves, they have also gotten a lot of mainstream attention and one of the most prominent firms is Chainlink, a decentralized network which has been in the news recently.
The market is selling the news, but this is huge news for $LINK.
Oracle & @chainlink are collaborating to develop Chainlinks for 50 qualified startups. That’s 50 more companies that’ll be using $LINK. This is a huge step towards making $LINK the standard. Just the beginning…
— CryptoMink (@CryptoMink) June 25, 2019
The latest development with Chainlink is that they have announced the onboarding the American arm of Oracle, the computer tech giant one of the biggest software companies in the world. The announcement of this was made by Fernando Ribeiro, a senior manager with Oracle for Startups, and Pablo Freitas, an engineer with Oracle’s Customer Innovation Labs, at the CloudEXPO conference in Santa Clara, California on June 25, 2019.
Breaking New Ground
According to Ribeiro, the collaboration in question has been in the works for several months and included Oracle blockchain experts collaborating with the Chainlink team to help startups make use of changing decentralized Oracle technology in order to monetize an API with the use of smart contracts on the Oracle blockchain platform. The announcement was then formally made on Twitter from the official Oracle channel.
“We’re thrilled to work with great companies like Oracle and their @oraclestartup team, which has graciously offered to support 50+ Chainlink nodes/teams that will be providing high-quality inputs and outputs into Oracle’s various blockchain environments @fribeiro1 #smartcontracts,”
the tweet said.
Rivera also explained that this new innovation has the potential to reach hundreds of thousands of new clients as well as expanding the use of the technology.
“We are going to co-develop Chainlinks with 50 qualified startups to prepare them to sell their data to Oracle’s 430,000 customers in 175 countries on the Oracle Blockchain Platform. The startups are going to be announced in Oracle Code One in September,”
Code One, which was mentioned by Ribeiro, is the company's developer conference and this year will have the focus of leading-edge technology which will incorporate blockchain microservices and artificially intelligence. He also stated that several firms are already partnering with Chainlink middleware. Furthermore, the startup program has an open-door policy towards prospects and the earliest participants will be given cloud credits along with various benefits.
“So any startup that is watching me right now […] can join the program. There’s no selection — any startup can join — any startup from country in any industry, it doesn’t matter if it’s B2C or B2B,”
Oracle, in general, has been increasing its attention on the blockchain space and earlier this year and improving the abilities for their Oracle blockchain which focuses on the creation of decentralized apps. Users of the platform include the Nigerian customs and the Arab Jordan investment bank. As time goes on, more details from this collaboration as well as Oracle's interest in blockchain will be further revealed.