Chainlink Partners With XY Oracle (XYO) Network Aiming To Improve Cross Chain Connectivity
Chainlink partners with XY Oracle (Image from Medium)
The announcement by the head of Communications and PR efforts on XY Oracle, Larry Smalheiser, confirms the partnership between XYO and Chainlink. XY Oracle focuses on making the physical world more digital by connecting the internet of things (IoT) based data capabilities on blockchain networks backed by cryptographic technology. Chainlink provides its users with an efficient and secure decentralized oracle for the inputs and outputs used to create smart contracts.
The partnership between Chainlink and XYO Network will see the latter provide valuable IOT data to the Oracle ensuring an efficient and secure smart contract development process. The partnership aims to improve the efficiency and sensitivity of cross blockchain connections and shared data across the platforms. The partnership will further provide a secure and reliable platform between distinct blockchains improving the interconnectivity and security of the data recorded and transactions settled.
Speaking on the partnership with XYO Network, Sergey Nazarov, CEO of Chainlink, sounded delighted with the partnership and looks forward to the development of the platform. He further said,
“We feel this collaboration will benefit all parties, and certainly those who would want to combine high-quality IoT data from the XYO network, with a highly-secure and reliable Oracle like Chainlink, for their smart contract development teams or across large enterprises.”
In the same breath of praise for the partnership, Arie Trouw, Co-Founder, and CEO of XYO, showed his delight in the partnership. Arie further praised their newest partner saying the company provides:
“An excellent an excellent opportunity to showcase the value of providing seamless data and chain-to-chain integration opportunity to showcase the value of providing seamless data and chain-to-chain integration.”
Further confirming XYO Network’s commitment to improve the interconnectivity of data sets and cross blockchains Trouw said,
“We’re glad to add our expertise and the increasingly complex data sets to the world-class solution the Chainlink team has created. We look forward to further expanding our work together over time.”
The partnership comes weeks before the planned main net launch of the Chainlink platform on May 30th. Sergey confirmed that the platform will be launched on the Ethereum blockchain and ERC 20 tokens will be issued once launched.