RTrade Technologies Partners with Chainlink (LINK) for Blockchain Data Storage
Chainlink via its official twitter handle announced that it was proud to be partnering with RTrade technologies LTD. The two companies have come together in an agreement that will see RTade use its new partners’ resources to supply oracles that can be used for off-chain information storing solutions, e.g., dedicated IPFS information feeds.
— Chainlink – Official Channel (@chainlink) November 29, 2018
The company builds solutions that can be used with developing technologies and protocols, e.g., distributed technology, web3, and blockchain. The company recently finished constructing a new facility in Canada earlier this year. The multimillion-dollar building comes with inbuilt infrastructure that can help provide a good environment for developing and deploying in-house tech projects.
By leveraging this foundation, the company has gone ahead and created a solution being referred to as Temporal. The product will mainly be used to distribute high quality information storage products to a broad audience. Currently, Temporal is only available as an application programming interface that has been hosted inside the RTrade facilities. However, an organization can also integrate this solution into its existing applications and infrastructure.
Chainlink, on the other hand, bonds high quality off-chain information storing products, e.g., payment systems, application programming interfaces, and data feeds to smart contracts. Through this new collaboration, RTrade will be better placed to accelerate development as well as come up with new and innovative ways on how the Temporal platform can be utilized.
The IPFS system is quite flexible. As such it provides a broad array of opportunities that can be used to link the RTrade system to other kinds of data feeds, e.g., financial data, weather data, and even astronomical data. Once linked, the Temporal platform will make sure that this information is available for a longtime to come.
It can achieve this fete by consistently pinning the data via the RTrade system. Continuous pinning will also simplify the data retrieval process. Platform users will also be in a position to contribute information to the ecosystem via a third party.
Chainlink uses a decentralized oracle network that makes sure that all the data being transmitted to and from the system is highly secured. In previous instances where users had to rely on the use of centralized oracle services, they did not have much control over the kind of data that would be exposed.
This also means that it was not possible for them to guarantee that the data they needed to access was readily available on the platform. For this guarantee to be provided, users had to be running privatized infrastructure. But all this has changed thanks to Chainlink enabling the security protocols.
Users now have control over the type of data that they would like to expose from each source. What this means is that there is no longer a need for a user to spend countless hours designing an application programming interface for use in handling organizational financial information and patent information.
Chainlink is committed towards developing a decentralized oracle service that can be used to connect all its smart contracts. Once connected, the contracts are expected to revolutionize the industry by providing new features and capabilities that will help bring blockchain technology to the masses.