Zilliqa (ZIL) Enlists Chainlink (LINK) In Building A Real-World Data-Driven Smart Contract Ecosystem
The high-throughput public Blockchain platform, Zilliqa, has announced that it has collaborated with Chainlink, the decentralized oracle network, in a bid to power its smart contracts. With this new move, Chainlink, which basically links smart contracts with real-world data, will help Zilliqa establish an ecosystem of data-powered smart contracts.
Zilliqa Is A Sharding-First Blockchain Platform Where Smart Contracts Easily Collect Data
The integration will let the smart contracts to quickly and conveniently retrieve and query external data feeds, essentially via a custom-made Chainlink adapter. Some of the information to be accessed in real-time, therefore, will include exchange rates, voting results, prevailing market rates, weather information and so forth.
Furthermore, Chainlink is now tasked with the role of collecting data from multiple sources before wiring them straight to Zilliqa. The whole arrangement will invariably enrich the public Blockchain’s newly established smart contract ecosystem while boosting its vibrancy and security.
Ideally, the decentralized oracle network will permit independent node administrators to seamlessly send live data feeds into a smart contract. The data is then used by those participating in the ecosystem to make trade decisions quickly. However, it is important to note that, the ecosystem is totally safe and reliable as it has no single source of failure.
Zilliqa Has Been Doing Well Lately
Zilliqa public blockchain platform was founded in 2017. It has tremendously grown, thanks to its sharding approach that helps split databases into smaller, more scalable and easily manageable portions.
According to Zilliqa’s chief scientific officer, Amrit Kumar, the collaboration with Chainlink will enable the platform “empower their developer community” along with their growing user base. He said that, even with their pursuit for different solutions within the growing decentralized finance industry, accessing market feeds safely and reliably is key to the growth of their community.
The platform has been busy upgrading and getting listed on several platforms, including Coinbase Pro. It already launched a mainnet (launched in March 31st), although this latest decision to integrate Chainlink, is the platform’s greatest development yet.
Chainlink is also listed on Coinbase and has a host of partners, including Google whom it is the official Cloud partner, and SWIFT.
The platform’s head of global business development, Dan Kochis, praised their recent mainnet launch and how it will augment Ethereum smart contract’s usefulness in querying market prices. According to him, the collaboration with Zilliqa will inspire “a new generation of decentralized finance applications” designed for institutional purposes.