A strategic collaboration has been announced by Cardano with Chainlink for enabling the developers of smart contracts to have the provision of oracle integration. IOHK (Input-Output-Hong-Kong), the tech firm at the back of Cardano (an open-source project of blockchain), has declared in the current Cardano Summit of 2021 that Cardano has initiated a collaboration with Chainlink (an oracle network based on decentralized blockchain).
Cardano gets remarkably admired
According to the announcement, the collaboration will witness the integration of the oracles of Chainlink into Cardano for assisting the developers because they are preparing to begin the construction of smart contracts to be operated by DeFi (decentralized finance) applications. Recently, Cardano developed into a smart-contracts compatible network firstly following the upgrade of its Alonzo project (going live on 12th September 2021). While remarking on the collaboration, blockchain partnerships’ head at Chainlink Labs “Niki Ariyasinghe” stated that an unparalleled value is given to the ecosystem of Cardano (particularly the tech group at the back of the project) on the behalf of the “oracle-network”.
In the view of Ariyasinghe, the current time is seamless for the respective collaboration regarding smart contracts. He added that Chainlink would facilitate the transmission of tamper-proof data between Off-chain sources and smart contracts which are on-chain. He mentioned that a key role has been played by time in this respect to make Cardano this much capable after a gradual development consisting of small upgrades. The latest Alonzo upgrade is the best of all making it a matchless scenario for the integration, he elaborated.
Cardano presents multiple partnerships
Simultaneously, the first day of the present Summit has consisted of several announcements along with strategic collaboration contracts among Cardano and different other bodies. It has been reported formerly that a partnership has been carried out between Cardano and the telecom services of DISH to transform the telecommunication industry’s whole model and enhance the adoption of blockchain as declared by Charles Hoskinson.
Another deal has been disclosed by the project stating that Veritree (an international land restoration as well as verification firm for tree planting) will protect the records thereof by utilizing the blockchain of Cardano through strategic collaboration. The list of Cardano’s partnership announcements includes prominent gaming and esports platform Rival, AID: tech (a solution based on finance identity), and UBX (a fund and studio based on a fintech venture).