Introducing Validation Capital’s Oracle Node on Chainlink
“Validation Capital is excited to join Chainlink’s Oracle Network to promote the evolution of smart contracts. Our firm looks forward to providing secure infrastructure that will support Chainlink’s gateway between blockchain and the traditional world.”
— Michael Horowitz, CEO
The Missing Link in Smart Contracts
Smart contracts have the potential to revolutionize the efficiency, cost, and reliability of doing business. However, until data from real world events can be securely communicated on-chain, smart contracts will be limited in their scope and impact.
Ethereum can automatically execute smart contracts, but only if all the information needed for execution is made available on-chain. This is a problem for enterprises and financial institutions that operate legacy systems, which were not designed to communicate with blockchains or within a complex transactional ecosystem.
Chainlink recognized this problem early and has designed a decentralized oracle network to allow external data sources, payments systems, and APIs to securely automate the entire life-cycle of a smart contract.
One industry that Chainlink’s technology can enhance is the insurance industry. For instance, Chainlink can connect smart contracts to vehicle sensor data to streamline car insurance. Driving habits such as speed, distance driven, and regular maintenance can be used to automatically trigger reductions in monthly deductibles.
There are innumerable such use cases that will be enabled by Chainlink’s middleware solution.
Good Enough for Google
Chainlink’s recent work with Google will allow smart contract platforms to interoperate with Google’s BigQuery. Now Ethereum developers can create hybrid cloud-blockchain DApps where cloud services are made available on-chain to smart contracts.
There are a diverse set of projects that have already announced their plans to use Chainlink’s oracle network such as Web3 Foundation/Polkadot, Hedera Hashgraph, Reserve, Harmony, IOST, Zilliqa and many more.
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 large enterprises (SWIFT and Google) and leading smart contract development teams.
About Validation Capital
Validation Capital is a tech infrastructure company pioneering Capital-as-a-Service for proof-of-stake and next-generation blockchain projects. Validation Capital provides secure node infrastructure and investment capital to industry leading cryptonetworks. Validation Capital’s finance team has more than 25 years of capital markets and investing experience from firms including CIBC, BMO, and Moelis. The engineering team brings expertise in cybersecurity, network architecture, and software development from Deloitte and IBM.
See more from Validation Capital on Twitter.
Note: chainlinkecosystem.com does not claim any ownership of this content, all credit to Validation Capital, view official announcement.