Ontology Integrates Chainlink’s Decentralized Oracles To Boost DApp Development
Ontology blockchain is the latest project to integrate Chainlink’s decentralized oracles to create a credible data management system.
According to a release post on Medium Ontology blockchain, which allows cross-chain transactions, launched its integration with Chainlink. The integration is expected to enable the ONT to developers to leverage off-chain data on their decentralized applications (dApps) in real-time.
The integration with Ontology is expected to create a new data management base for the platform by integrating the “ONT ID, Ontology’s digital identity framework, and the ONTO wallet” into the dApps. To make the integration compatible, the Ontology dev team had to switch the Chainlink smart contract to its native code, Python programming language.
Blockchain is usually independent, working on data on the chain at a specific time. Hence the need for off-chain ramps such as Chainlink. The co-founder of Ontology, Andy Ji, believes the integration of Chainlink is set to enhance the scalability and robustness of its platform. He further said,
“Ontology’s high-efficiency and low transaction fees, combined with Chainlink’s adept ability to provide secure and reliable oracles consistently is a potent combination that will drive mutually beneficial outcomes for our respective platforms and communities.”
A Tried and Tested Platform.
Ji believes Chainlink is the best oracle option for the platform, given the large and warm reception it has received from some prominent industry figures and companies.
“Chainlink has demonstrated a stellar track record in providing bespoke oracle solutions to leading global enterprises including Google, Oracle, and SWIFT,” Ji said. “This experience underlines Chainlink’s credentials as the undisputed, market-leading decentralized oracle network.”
In the future, Ontology hopes to build multiple Chainlink oracles on its HydraDAo in a bid to “enable stronger data accuracy within smart contracts, cross-chain interactions, and cross-data source collaboration.”
This is not the first partnership between Ontology and Chainlink. In November 2019, Ontology developers started the process of adding simple decentralized data oracle from Chainlink onto its platform.