Ocean Protocol + Chainlink Integration
We’re proud to be integrating with Chainlink!
The Ocean protocol requires a high-quality, reliable oracle service in order for our smart contract (or keeper contract) to access the necessary off-chain information to trigger certain transactions (such as awarding on-chain contract tokens to people who supply datasets off-chain).
Industry-leaders like Chainlink are a natural choice. By creating a decentralized oracle network for Ocean to securely access off-chain information, there is an added layer of trust and reliability because it does not rely on any one single entity.
Why does this matter?
As a decentralized platform, Ocean cannot rely on the off-chain information source from one single entity to make its decision. For example, Ocean needs to randomly choose a participant to reward tokens, but the method of choosing this recipient should not be controlled by any single person or entity. Otherwise, the Ocean network would be susceptible to being manipulated by attackers.
We will be diving deeper into this exciting technical integration in a series of blogs to come — starting off with Bridging Blockchain to the Real World Using Chainlink.
Chainlink is a decentralized oracle network that enables smart contracts to securely access off-chain data feeds, web APIs, and traditional bank payments. Chainlink is consistently selected as one of the top blockchain technologies by leading independent research firms such as Gartner. It is well known for providing highly secure and reliable oracles to both large enterprises (SWIFT) and leading smart contract development teams.
About Ocean Protocol
Ocean Protocol is a decentralized data exchange protocol to unlock the world’s data for the advancement of AI and to create an ecosystem for the Data Economy. It exposes data, storage, compute and algorithms for consumption with a set of deterministic proofs on availability and integrity that serve as verifiable and provable service agreements that people can trust.
Special thanks to Fang Gong.
Note: chainlinkecosystem.com does not claim any ownership of this content, all credit to Ocean Protocol, view official announcement.