Select Page

Cardano (ADA) Partners With Chainlink (LINK) for Oracle Services

Cardano (ADA) Partners With Chainlink (LINK) for Oracle Services

This article is added for educational purpose only. All credit goes to the respected author of this article. All In One Crypto App do not hold any liabilities of this article. You can get the source link at the end of the article content.

Cardano has announced a partnership with oracle solutions provider Chainlink to accelerate the development of its DeFi ecosystem. The news was released at the Cardano Summit, a two-day conference held last weekend.

News from Cardano Summit

Cardano Summit, which was announced as “the biggest online blockchain event ever”, took place on 25-26 September 2021. The two-day conference was filled with presentations, reports, visions of the future and panel discussions.

Among the many events, there were speeches on new partnerships that are expected to be key to the further development of the Cardano (ADA) ecosystem. One of these was a partnership with telecommunications provider Dish Network.

However, the biggest surprise was the announcement regarding the integration with Chainlink (LINK), a leader in the oracles sector. The technology is used to provide high quality data to support smart contracts. In short, Chainlink allows information from the off-chain world to be combined with the protocols of the on-chain space.

An use case example of data from oracles, mentioned in the IOHK statement, is reliable weather data. It stressed that providing them is crucial for “FinTech startups that are trying to enable parametric insurance in sub-Saharan Africa”. Other examples included election results, sports statistics or cryptocurrency rates, which will allow DeFi apps to operate without the need for third-party verification.

Cardano has been increasingly bold in entering the DeFi space and positioning itself as a major competitor to Ethereum (ETH). Chainlink, on the other hand, is securing billions of dollars in the DeFi, insurance or gaming industry as of today. Their technology offers global enterprises and leading data providers a universal gateway to all blockchains.

This is why IOHK founder Charles Hoskinson said about the new partnership:

“IOHK is committed to providing developers with the most secure and robust tooling for building useful solutions on Cardano, making it an easy choice to integrate Chainlink’s market-leading oracle solution.”

He went on to add that data integration will “reduce the go-to-market time for Cardano developers, but it will establish a secure foundation for Cardano’s DeFi ecosystem”. According to him, this will help increase user trust in the entire ecosystem.

Cardano and Chainlink partnership / Source:

In response to this enthusiasm, Sergey Nazarov, co-founder of Chainlink, said:

“We’re excited to leverage our extensive experience and expertise by establishing native support for Chainlink on the Cardano blockchain and supporting its next stage of growth into markets like DeFi and beyond.”

In addition, Nazarov stressed that the use of Chainlink oracle will allow “to quickly gain access to high-quality, real-time price data on a wide range of assets while still maintaining robust security and uptime.” Finally, he added that “this will empower developers on Cardano to build next-generation applications quicker and more securely.”

The post Cardano (ADA) Partners With Chainlink (LINK) for Oracle Services appeared first on BeInCrypto.

Source: BeInCrypto

All In One Crypto App presents a unique dynamic crypto course that allows you to become a profitable and successful trader. Download Now

Don't forget to share your review/suggestions for the android app.

All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own here


Select a Sub Category


All In One Crypto App

Made $234 profit with Free Signals from $50

This is the best useful app on my phone. Started trading with $50 and in 5 weeks I was up to $234 just with the free signals. I will recommend it to any new person that wants to try trading crypto. Link to Review

Asoluka Chimdindu

Free User
All In One Crypto App

Good Support

This app is one of the best for crypto currency trading signal for experts and beginal with free and premier with auto follow trading bot all the signal is excellent with accurate technical analysis and fundamental I really like the way they guide and support. Link to Review

olaplus olaplus

Premium User
All In One Crypto App

Accurate Trading Signals

I was premium member of this channel back in 2018 when there was no app. Thr signals were too good, more than 90% accuracy. Now with this app and newly introduced auto trading bot, it will be awesome. Too the moon. Link to Review

Yogesh Patil

Premium member
All In One Crypto App

Awesome and Accurate Signals

Very glad to use this app. The crypto signals was awesome and accurate with detailed explanation and visual information. The admin also helpful and nice. Link to Review

soon cheong

Free User
All In One Crypto App

User Friendly App

Signals are great. I love it. App also friendly to use… Nice job guys Link to Review

Olawunmi Dilureni

Premium Subscriber