High Performance Blockchain & Chainlink – Paving the way for blockchain adoption
High Performance Blockchain (HPB), the world’s first blockchain company to combine dedicated hardware with software, and Chainlink, the leading blockchain oracle service provider, will leverage each other’s products to improve their respective service offerings. The Chainlink network provides valuable middleware solutions, making in-demand off-chain resources available to on-chain smart contracts. HPB’s hardware chipset, the Blockchain Offload Engine (BOE), supplies true random number services to Chainlink clients.
What is Chainlink’s Role?
Certain applications and parties may require access to off-chain data (data not on the blockchain) to successfully function or to broaden their scope of operations. Currently, organizations have difficulties managing secure and reliable exchanges of data between on-chain and off-chain environments. This challenge can be solved by using an oracle, a 3rd party digital agent that retrieves, formats, and exchanges data between smart contracts and off-chain systems. Oracles can use data to trigger the execution of smart contracts after a specified set of predefined criteria are met, which greatly expands the scope and impact of blockchain applications. In order to properly operate, oracles are dependent upon trust and authentication, which conflicts with the trustless nature of blockchain.
Chainlink offers the highly decentralized oracle network to guarantee end-to-end data security. Prior to data transmission, multiple data-pathways (chainlinks) are used to evaluate the same string of data. Because multiple oracles are used to retrieve and pass along the same data point, the failure of an individual oracle node does not compromise data integrity or smart contract functionality. This data includes, but is not limited to web-based APIs, off-chain data sources, IoT, other blockchains, and traditional banking systems. Chainlink is already providing highly secure and reliable oracle services to both large scale enterprises (such as SWIFT) and smart contract developer teams alike.
What is High Performance Blockchain’s Role?
Random numbers are useful for a variety of purposes, such as generating data encryption keys, simulating and modeling complex phenomena, and for selecting samples from larger data sets. They are also widely used for games and gambling. There are currently two main approaches to generating random numbers: Pseudo-Random Number Generators (PRNGs) and True Random Number Generators (TRNGs).
While extremely efficient, numbers created by PRNGs are predetermined and potentially predictable because the seed is generated by a mathematical formula. These types of random number generators are often not suitable for applications such as data encryption, games, and gambling where security and fairness are key. These types of applications require true random number generators.
Through HPB’s unique combination of software and dedicated hardware chipset, BOE, HPB can provide true random number generation service. The BOE consists of multiple FPGA chips that are configured to exercise a certain function through VHDL language. The BOE generates random numbers through FPGA chips and sensory bodies that are configured to register extreme voltage differences. For instance, the board can detect a variance of 0.00001 volts and seed a new random number based on the minute variance. This data seed is then transmitted across the entire HPB-node network and added to the blockchain generation process which can be utilized by any connected parties such as Chainlink.
Chainlink and HPB
As DApps become increasingly complex, smart contracts will require data from multiple real-world sources. By using an interconnected web of oracle providers, HPB’s blockchain network can provide even more valuable data and service options to its developers and partners. Simultaneously, the effectiveness of Chainlink’s oracles are augmented by being linked to a highly scalable and extremely secure blockchain network, both to facilitate high-volume data-exchange and ensure data remains uncorrupted.
Both parties are adamant about supporting innovations in the field of smart contracts in order to provide more value to their clients. By choosing Chainlink as its oracle service provider, HPB DApp developers can leverage real-world data securely and efficiently. HPB’s Managing Director of Global Business Development, Danny Rowshandel, states that “By integrating Chainlink’s oracle services, we will get one step closer to real-world adoption of blockchain technology.”
Daniel Kochis, Chainlink’s Global Head of Business Development, adds “We are excited to work with HPB to provide their developers with access to off-chain data and to also provide them a channel for their random number generation to power smart contracts.”
Note: chainlinkecosystem.com does not claim any ownership of this content, all credit to HPB, view official announcement.