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Home » Cryptocurrency » Hedera Hashgraph and Chainlink collab on decentralized oracle network

Hedera Hashgraph and Chainlink collab on decentralized oracle network

Today, Hedera Hashgraph and Chainlink announced they will collaborate to integrate Chainlink’s decentralized oracle network with Hedera’s enterprise-grade distributed public ledger. This will allow developers writing Hedera-based smart contracts to access real-world data, events and payment information.

Hedera Hashgraph is a public distributed ledger that aims to directly resolve four fundamental issues with mainstream market adoption of public ledger technology — performance, security, stability, and governance.

Hedera will provide Chainlink with access to an enterprise-grade public network supported by some of the largest global enterprises. In addition, Hedera stands in a unique position to offer a stable smart contract platform integral to the future of digital contracts.

“Chainlink is excited to integrate with the Hedera network to provide their developer community and smart contracts with provably accurate off-chain data.”

Daniel Kochis, Global Head of Business Development for Chainlink

Today, the market at large has no mechanism for preventing hard-forks which split the state of an application by creating a competing platform and cryptocurrency with the client software running on both.

Enterprise managers considering large-scale deployments of mission-critical applications see this as a fundamental challenge that needs to be addressed. Hedera provides the legal and technical controls to prevent unauthorized hard-forks and has made a commitment to the market that Hedera will have one platform and one cryptocurrency.

“We’re fast approaching Open Access, the time at which developers can freely develop distributed applications on Hedera’s beta mainnet. The Chainlink integration, alongside our full support for Solidity, makes it even more compelling for applications to migrate from other Solidity based smart-contract platforms to Hedera for improved performance, security, stability and much more. Smart contracts have already started to change the world, and how organizations and individuals do business, and we see Chainlink’s oracle network as a key piece of infrastructure to improve smart contract capabilities even further.”

Jordan Fried, SVP of Global Business Development for Hedera

To read more about how Hedera sees the future of DLT and oracles, read “Smart Contract Oracles on the Hedera Platform” by Hedera’s Lead Technical Architect, Paul Madsen.

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