Internet Giant’s Kakao Blockchain Project Klaytn to Use Chainlink’s Decentralized Oracle Network
- Klaytn partnership with Chainlink will now enable the Kakao backed Project to sync their smart contracts with external API’s and payment systems.
- This would allow them to focus on developing more advanced products across vast markets.
Klaytn, Kakao’s global Blockchain program, has announced its new partnership with Chainlink to provide them secure oracle infrastructure. Chainlink was previously dubbed the most popular decentralized oracle globally.
Klaytn is the brainchild of Korea’s mega Internet provider Kakao in collaboration with Ground X also affiliated with Kakao. Klaytn is an enterprise-grade platform that is keen to bring user-friendly Blockchain experience to the masses.
Its governance council, as per this writing, has now been onboarded by 28 likeminded giant digital companies such as LG Electronics, Union Bank of the Philippines, Celltrion, Binance, and crypto exchange Huobi recently joining the fold.
Chainlink’s decentralized network provides expertise in syncing smart contracts with reliable and secure data providers or any external APIs and payment systems. Extending this support to Kakao will enable Chainlink to connect their smart contracts to external APIs, and their Dapps will now sync with real-time data from global systems.
According to Ground X Platform Lead, Sangmin Seo, the Oracle will now afford them to develop Blockchain solutions applicable to the legacy systems actively. This, he cited, would bolster their capacity to unleash cutting edge innovations across vast global markets.
Sergey Nazarov, the Co-Founder of Chainlink, was eager to support Klaytn to foster the development of next-gen Dapps. Highlighting that they could now focus on achieving their goal of mass adoption of Blockchain dubbed ‘bringing Blockchain to the masses’.
“Klaytn can accelerate towards its goal of Blockchain mass adoption with the addition of real-world connectivity made possible by Chainlink oracles.”
— Klaytn (@klaytn_official) May 18, 2020
Chainlink launch new VRF feature
Notably, Chainlink recently released a new on-chain Verifiable Random Function (VRF). The feature would be a perfect fit for the smart contract developers who are keen to incorporate randomness on a Blockchain platform as most of the DeFi ecosystems in place are reliant on the feature to ensure contract safety. It would mainly benefit the Blockchain gaming community, security, and layer-two protocols.