IOV Labs Integrates Chainlink Decentralized Oracles Into the RSK Ecosystem

GIBRALTAR / ACCESSWIRE / August 31, 2020 / IOV Labs has integrated Chainlink's decentralized oracles into the RSK and RIF ecosystems. This allows RSK developers to access critical price feeds and data resources generated outside the blockchain and use them as inputs to trigger RSK's Bitcoin-based smart contracts.

RSK and RIF's technical teams are working hard to integrate Chainlink's protocol at the infrastructure level to ensure developers can use Chainlink oracles without any external dependencies on other blockchains. The integration is already live on testnet and was completed in only a few weeks due to the high modularity of the Chainlink protocol.

As the market-leading oracle protocol, Chainlink's technology is utilized by many leading smart contract development teams and large enterprises within the blockchain and tech space. It powers the majority of blockchain platforms and DeFi applications that are reliant on oracles to connect with accurate off-chain data, delivered trustlessly in near real-time.

"Chainlink is as synonymous with oracles as RSK is with Bitcoin smart contracts," said Julian Rodriguez, Head of RIF Gateways. "By combining the two, developers can capitalize on a smart contract network that's anchored to the strongest Proof of Work blockchain, and connected to the best decentralized oracle solution on the market. The synergies between Chainlink and IOV Labs are extensive, and we look forward to exploring ways to enhance the utility of RSK and RIF by building upon Chainlink's best-in-class oracle service."

RIF Gateways, one of the core components of RIF, aims to provide a simplified and unified experience for developers to access any oracle or data service that brings information into the blockchain from the external world. Thus, the integration will use RIF Gateways to make Chainlink oracle network easily accessible to RSK developers.

The integration also extends the capabilities of Chainlink, opening its network of node operators to the most valuable and decentralized blockchain in the world – Bitcoin, which anchors RSK. The integration further demonstrates the feasibility of implementing technology protocols that can spawn across multiple blockchains, building bridges between existing platforms and teams.

Daniel Kochis, Head of Chainlink Business Development, commented on the integration, stating: "The blockchain space has long wanted to build smart contracts anchored to the security of the Bitcoin blockchain. We're excited to collaborate with the IOV Labs team making that a reality by providing RSK with secure and reliable oracles to empower more useful smart contract applications that fully integrate with widely used data resources and systems."

Developers can view the GitHub here: https://github.com/smartcontractkit/chainlink-RSK

About IOVlabs

IOVlabs develops the blockchain technologies needed for a new global financial ecosystem; one that fosters opportunity, transparency, and trust. The organization currently develops the RSK Smart Contract Network, RSK Infrastructure Framework (RIF) , and Taringa! Platforms.

The RSK Network is one of the more secure smart contract platforms in the world, designed to leverage Bitcoin's unparalleled hash power while extending its capabilities. RSK Infrastructure Framework (RIF) is a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment. Taringa is Latin America's largest Spanish speaking social network with 30 million users and 1,000 active online communities.

About Chainlink

Chainlink is a decentralized oracle network that helps resolve connectivity issues with smart contracts, enabling users to build blockchain-based smart contracts that securely access off-chain data feeds, web APIs, and traditional bank payments. By doing so, Chainlink transforms the role that smart contracts can play in a vast number of sectors, including financial services, insurance, and supply chain. Chainlink provides highly secure and reliable oracles to large enterprises (Google, Oracle, and SWIFT) and leading smart contract development teams such as Polkadot/Substrate, Synthetix, Loopring, Aave, OpenLaw, Conflux, and many others.

Learn more by visiting the Chainlink website.

Contact:

Dan Edelstein
pr@marketacross.com

SOURCE: IOV Labs

ReleaseID: 604037